Retail in Asia

In Shops

Super Retail rules out alliances as overseas retailers circle

Super Retail chief executive Peter Birtles says he has strategies in place to counter increased competition and has ruled out strategic alliances or partnerships as one of the world’s largest sporting goods retailers starts circling the company.

Super Retail shareholders believe that UK retailer Sports Direct or Intersport, the largest sports retailer in the world, may be seeking to buy a strategic stake in Super Retail, which owns Rebel Sport and Amart.

Shareholders have been approached by a broker in the past week seeking at least 5 percent of the stock on behalf of a buyer they understood was based offshore. Sports Direct, which owns 600 sporting goods stores in Europe, seems to be the most likely buyer.