I, like millions of other Australians it seems, have been taking advantage of the recent Black Friday sales. These sales, which seem to have exploded in popularity over the past few years, see businesses across the country offer huge discounts on a wide range of products.
While it's nice to save some much-needed cash in the lead-up to Christmas, I've been eyeing up some cheap ASX shares to buy with my savings instead. So today, let's break down two ASX All Ords shares that I think are the ASX's equivalent to a Black Friday sale right now.
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2 ASX All Ords shares in 2023's Black Friday sales
JB Hi-Fi Ltd (ASX: JBH)
All Ords retail share JB Hi-Fi has probably been a popular Black Friday destination for many shoppers this year. I myself visited one of their stores last week. Yet it's the JB Hi-Fi share price that I reckon offers a bigger bargain. Most consumer discretionary retailers like JB are fairly cyclical businesses. These are businesses that tend to ebb and flow according to the health of the overall economy.
As such, it was no surprise to see that higher inflation and rising interest rates have recently taken a toll on the company. Back in late October, JB Hi-Fi reported its year-over-year sales took a 0.1% hit over the three months to 30 September 2023 compared to the same period in 2022.
However, the company also stated that compared to the pre-COVID period in 2019, total sales had grown by 40.5%.
Yet the JB share price has been stuck in the doldrums for a few years now. Today, you can buy this company's shares for the same price as they were back in August 2020.
With a price-to-earnings (P/E) ratio of 9.9 and a trailing dividend yield of 6.76%, JB shares are looking mighty cheap right now in my view.
Coles Group Ltd (ASX: COL)
Another All Ords share that might be considered to be on special at the moment is supermarket giant Coles. Today, the Coles share price is languishing at around $15.19 at the time of writing. Again, you'd have to go back to mid-2020 to see the last time Coles had this kind of share price.
Like JB Hi-Fi, investors seem to have been put out by Coles' latest quarterly sales update. Last month, the company reported a 3.6% increase in sales for the three months to 24 September 2023. However, it appears this spooked investors, who might have been looking at rival Woolworths Group Ltd (ASX: WOW)'s 6.4% growth rate over the same period.
Despite this, the current Coles share price could be compelling. It places Coles on a P/E ratio of 19.49, and with a trialling dividend yield of 4.34%. That compares pretty well against Woolworths' P/E of 26.04 and dividend yield of 3.04%.
From where I'm standing, Coles still remains a compelling defensive ASX All Ords share, and a reliable dividend income payer. So I reckon the company could well be worth a look at its current share price.
