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Cheap ASX 200 retail shares to buy today

ASX 200 retail shares have been some of the hardest hit in 2020. The coronavirus pandemic saw many stores shut down as tight government restrictions came into place.

The S&P/ASX 200 Index (ASX: XJO) is down 10.91% this year and many Aussie retailers have lost billions in value.

However, there are indications that the tide could be turning. Here are a couple of my top ASX 200 retail shares to watch ahead of a potential recovery in June.

Cheap ASX 200 retail shares to buy today

I think JB Hi-Fi Limited (ASX: JBH) shares could be in the buy zone. JB Hi-Fi has benefitted from the remote working arrangements put in place across much of corporate Australia.

Aussies have flocked to JB Hi-Fi’s online stores to deck out their working from home setups. That means more sales of computers, TVs, monitors and other accessories in 2020.

The ASX 200 retail share is up 5.27% this year but I think it could climb even higher. If we see more companies remain with a remote working model, that could boost JB Hi-Fi’s sales even higher.

I also think Super Retail Group Ltd (ASX: SUL) is worth a look right now. Super Retail is one of Australasia’s top 10 retailers with over 670 retail stores and more than 12,000 team members.

The Aussie retailer owns a number of well-known brands including BCF, Rebel, Macpac, and Supercheap Auto. While sales may have seen a slump, I think the relaxation of restrictions could be a good thing for the ASX 200 retail share.

More Aussies could be looking to get out and about. That might be buying more gym equipment from Rebel or outdoor gear from Macpac and BCF.

The Super Retail share price is down 16.34% this year, but could be set to boom if we see strong earnings in August.

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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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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