ASX 200 retail shares like Super Retail Group Ltd (ASX: SUL) are on watch after the latest retail trade data from the ABS.
The post Why ASX 200 retail shares like Super Retail (ASX:SUL) are worth watching appeared first on The Motley Fool Australia. –
ASX 200 retail shares like Super Retail Group Ltd (ASX: SUL) are worth watching this afternoon. That’s because today saw the release of the latest Australian Bureau of Statistics (ABS) retail trade data.
What’s the latest for ASX retail shares?
Today’s retail trade data contained some good news for retailers even as the S&P/ASX 200 Index (ASX: XJO) fell 1%. Market conditions strengthened slightly during March with seasonally adjusted estimate up 1.4% from February 2021 to $423.9 million.
In seasonally adjusted terms, Australian turnover climbed 2.3% in March 2021 compared to the year prior. Today’s ABS release suggested the March 2021 quarter will be relatively unchanged compared to last quarter in seasonally adjusted current price terms. In fact, the ABS is forecasting a 0.1% decline from the December 2020 quarter on that basis.
The 1.4% increase in March follows a 0.8% decline in February 2021. That was aided by both Victoria (+4%) and Western Australia (+5.5%) rebounding from coronavirus-related lockdowns.
Queensland’s figures edged lower, attributed to the 3-day Brisbane lockdown towards the end of the month, but this was offset elsewhere in the country. The strongest increases were seen in cafes, restaurants and takeaway food services, particularly across Victoria and WA.
Through-the-year sales rose 2.3% compared to March 2020 figures, following a 9.1% increase in February 2021. The ABS attributed that to March 2020 coronavirus figures which saw a surge in supermarket retail spending at the likes of Coles Group Ltd (ASX: COL) and Woolworths Group Ltd (ASX: WOW).
ASX 200 retail shares like Super Retail are worth watching this afternoon on the back of the latest figures. At the time of writing, the Super Retail share price is up 0.8% to $12.40 while JB Hi-Fi Limited (ASX: JBH) shares have pared back 0.4% of losses following the release.
ASX 200 retail shares are moving this afternoon after the latest retail trade statistics from the ABS. Month-on-month increases from Victoria and Western Australia offset weaker numbers in Queensland to help monthly turnover climb higher.
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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Woolworths Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.