3 ASX 300 retail shares majorly cashing in on Thursday

Concerns Australian retail spending could soon slow hasn't dinted these ASX 300 retailers.

| More on:
Happy couple looking at the share price.

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

It's a good day for many S&P/ASX 300 Index (ASX: XKO) retail shares, with some market favourites launching as high as 50%.

Their gains follow news Australian retail turnover reached another record high in June, lifting 0.2% – a sixth consecutive monthly increase. Though, it's also the smallest increase of this year so far.

The Australian Bureau of Statistic's Ben Dorber notes cost-of-living pressures – driven by rising inflation, which hit 6.1% last quarter – seem to be slowing spending growth. He said:

Given the increases in prices we've seen in the Consumer Price Index, it will also be important to look at changes in the volumes of retail goods in next week's release of quarterly data.

But that doesn't appear to have dampened sentiment for ASX 300 retail shares on Thursday.

These three favourites have rocketed higher. Let's take a closer look at their outstanding performances.

These ASX All Ords retail shares are surging higher

Kogan.com Ltd (ASX: KGN)

The Kogan share price is skyrocketing 54.31% on Thursday to trade at $4.84.

That's despite a business update from the online retailer detailing falling profits.

However, it also recorded a return to positive earnings before interest, tax, depreciation, and amortisation (EBITDA) after ending in the red in the March quarter.   

Temple & Webster Group Ltd (ASX: TPW)

Fellow ASX 300 retailer Temple & Webster is also in the green today. Its shares are currently up 16.13% to $4.65 despite the company's silence.

Today's gain sees the Temple & Webster share price 30% higher than it was at Tuesday's close. Though, it's still 45% below what it was at the start of 2022.

Redbubble Ltd (ASX: RBL)

The final ASX 300 retail share posting a whopper of a gain is Redbubble. The online marketplace's stock has rocketed to $1.145 – a 21.16% gain.

Once more, there's been no news from the company. Today's gain sees it trading at a near-three-month high.

Motley Fool contributor Brooke Cooper 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 Kogan.com ltd, REDBUBBLE FPO, and Temple & Webster Group Ltd. The Motley Fool Australia has positions in and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. 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

A man eases back onto his sofa, happy with the relaxed vibe from his furniture.
Retail Shares

Why I just sold half my shares in this ASX 300 stock even though I still love it!

I’m still a big fan of this business.

Read more »

Two fashionable asx investors dancing among confetti.
Retail Shares

2 'very high-quality' ASX retail shares with significant inside ownership

A fund manager has named two appealing stocks to own.

Read more »

A man sits on a bench atop a mountain with a laptop, making investments with a green ESG mind.
Earnings Results

ASX All Ords stock KMD tumbles as interim dividend cancelled

Investors are hitting the sell button on ASX All Ords stock KMD today.

Read more »

Close-up Of Empty Shopping Cart Near Person's Hand Using Calculator Over White Desk
Retail Shares

Better buy: Coles or Woolworths stock?

Which stock should go in the shopping basket?

Read more »

Person handing out $100 notes, symbolising ex-dividend date.
Retail Shares

Why did Super Retail shares drop after going ex-dividend?

This is the story behind the decline.

Read more »

Happy couple doing online shopping.
Opinions

Is it too late to buy after the Kogan share price rocketed 90% in a year?

Is this online retailer still an investment opportunity?

Read more »

Two people comparing and analysing material.
Retail Shares

Better buy in March 2024: Wesfarmers stock vs JB Hi-Fi stock

Which of these two retail heavyweights would be a better buy?

Read more »

A man eases back onto his sofa, happy with the relaxed vibe from his furniture.
Share Gainers

If you'd put $30,000 in this ASX retail stock 11 months ago, you'd have $116,000 now

When battered stocks make a comeback, it happens very quickly. Here's a prime example.

Read more »