Why ASX 200 retail shares like Super Retail (ASX:SUL) are worth watching

ASX 200 retail shares like Super Retail Group Ltd (ASX: SUL) are on watch after the latest retail trade data from the ABS.

| More on:
A happy shopper lifts her bags high, indicating a rising share price in ASX retail companies

Image source: Getty Images

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.

Foolish takeaway

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.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

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.

More on Retail Shares