ASX 200 retail shares in the doldrums today despite improving sales data

Despite another monthly uptick in sales figures, retailers are under pressure on the ASX today.

| More on:
Sad shopper sitting down with five shopping bags.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • ASX 200 retail shares are broadly in the red today
  • That's despite May’s retail volume and turnover figures increasing both month-on-month and year-on-year
  • Most sectors are under pressure today following a sharp selloff in US markets

S&P/ASX 200 Index (ASX: XJO) retail shares are broadly sliding today, despite some upbeat sales figures just released by the Australian Bureau of Statistics (ABS).

In its monthly estimate of turnover and volumes for retail businesses – including in-store and online sales – the ABS said that May’s figures were up 0.9% from April. That’s as year-on-year retail turnover and volumes increased 10.4%.

This marks the fifth consecutive month of growth across the retail industry.

Yet, as we look at below, ASX 200 retail shares aren’t enjoying the tailwinds today.

ASX 200 retail shares in the red

To put today’s selling pressure into some context, the ASX 200 is also in the red, down 1.08% in early afternoon trading. That follows some big losses in US markets yesterday (overnight Aussie time), with the S&P 500 closing down 2%.

And that selling is hitting ASX 200 retail shares today, despite the sector’s strong sales numbers.

The Wesfarmers Ltd (ASX: WES) share price, for example, is down 1.76% at the time of writing. Wesfarmers owns Bunnings Warehouse, Kmart Australia, and Officeworks, among others. The company has a market cap of around $48 billion.

Harvey Norman Holdings Ltd (ASX: HVN) isn’t being spared today either. The electronics, appliances, furniture, and homeware retailer is down 3%, with a current market cap of $4.65 billion.

The electronics segment is also feeling the pressure today, as witnessed by the 1.46% decline in ASX 200 retail share JB Hi Fi Ltd (ASX: JBH). JB Hi Fi has a market cap of $4.1 billion.

We’ll leave off with specialty fashion retailer Premier Investments Ltd (ASX: PMV), which owns chains including Smiggle, Just Jeans, Jacqui E, and Dotti, with a footprint in Australia, New Zealand, Asia, and Europe. The Premier share price is down 3.19%, giving it a current market cap of just over $3 billion.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman Holdings Ltd. The Motley Fool Australia has positions in and has recommended Harvey Norman Holdings Ltd. and Wesfarmers Limited. The Motley Fool Australia has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Retail Shares

An older couple come together in their warm heated home with fire cracker sparklers.
Retail Shares

50% off: Why I think this ASX All Ords share could be a sparkling buy

With its share price cut in half this year, there are three reasons why I like this ASX retail share.

Read more »

A businessman slips and spills his coffee.
Share Fallers

Adore Beauty share price slips 12% following ASX speeding ticket

What went down with Adore Beauty on Wednesday -- other than its share price.

Read more »

Three happy shoppers.
Retail Shares

Why are ASX 200 retail shares having such a stellar run today?

ASX 200 retail shares are on fire today. What's put a rocket under this ASX 200 sector?

Read more »

A young woman in a shop hands her credit card to the cashier
Earnings Results

Super Retail Group share price jumps 8% on soft FY22 results

The retail group has announced mixed results to the market this morning.

Read more »

A smug executive woman wearing glasses and red lipstick blows a kiss to herself as she takes a selfie in a cafe feeling happy about the Adore Beauty share price going up today
Retail Shares

Why is the Adore Beauty share price rocketing 19% on Tuesday?

Could earnings from its peer be behind the stock's gain?

Read more »

A young woman does her Christmas shopping online in her lounge room at home with a Christmas tree in the background.
Retail Shares

Kogan share price drops amid warehousing legal battle

A warehouse legal battle is the latest headache for Kogan shareholders.

Read more »

A hipster looking man with bushy beard and multiple arm tattoos sits on the floor against a sofa reading a tablet with his hand on his chin as though he is deep in thought.
Retail Shares

Could this ASX 200 share be heading for a short squeeze?

JB Hi-Fi shares could rocket next week if this expert is to be believed...

Read more »

Confused baby.
Earnings Results

‘Our future is looking bright’: Baby Bunting share price slips despite earnings milestone

The company's total sales surpassed $500 million last financial year.

Read more »