It has been a busy day for the S&P/ASX 200 Index (ASX: XJO) with plenty of updates hitting the wires.
For example, three ASX 200 shares that have released trading updates today are listed below. Here's how they are performing in FY 2023:
Corporate Travel Management Ltd (ASX: CTD)
The Corporate Travel Management share price is up 1.5% to $17.41 following the release of a trading update at the corporate travel manager's annual general meeting.
Corporate Travel Management revealed that it had a record month in September, with total transaction value (TTV) at approximately $0.8 billion. And while its revenue recovery was only at 75% of pre-COVID levels, it has climbed higher in October. This bodes well, as consensus estimates require a ~80% revenue recovery across FY 2023.
JB Hi-Fi Limited (ASX: JBH)
The JB Hi-Fi share price is up slightly to $42.92. This follows a solid update from the retail giant this morning.
JB Hi-Fi advised that all its businesses have delivered double-digit sales growth during the first quarter of FY 2023. The JB Hi-Fi Australia business posted a 14.6% increase in sales, the New Zealand business delivered a 27.7% increase in sales, and The Good Guys business reported a 12.3% increase in sales.
Super Retail Group Ltd (ASX: SUL)
The Super Retail share price is up 3% to $10.03. This morning the owner of brands including Rebel and Super Cheap Auto released a trading update ahead of its annual general meeting.
That update reveals that like for like sales were up 20% during the first 16 weeks of FY 2023. Though, it is worth highlighting that lockdowns were occurring in the prior corresponding period. As a result, management has warned investors not to extrapolate this growth. Another positive was that its gross margin remains consistent with the same period last year.
Management also warned that "[w]hile current trading remains strong, the Group expects higher mortgage rates and increased cost of living expenses will begin to impact consumer spending."
