3 ASX 300 retail shares going gangbusters on Wednesday

These shares are making their shareholders smile on Wednesday. But why?

| More on:
a young woman looks happily at her phone in one hand with a selection of shopping bags in her other hand.

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

The ASX 300 may be pushing higher today, but this pales in comparison to some of the gains being made in the retail sector.

For example, the three ASX 300 retail shares listed below are all smashing the market.

Here's how they are currently performing:

  • The Cettire Ltd (ASX: CTT) share price is up 3% to $3.50.
  • The com Ltd (ASX: KGN) share price is up 9% to $5.23.
  • The Temple & Webster Group Ltd (ASX: TPW) share price is up 15% to $7.43.

Why are these ASX 300 retail shares rising?

The catalyst for these strong gains appears to have been a lower-than-expected inflation reading and the release of a trading update out of Temple & Webster.

In respect to the former, with inflation coming in lower than expected, this could reduce the need for further rate hikes, which would be good news for consumer spending.

As for the latter, as we covered here earlier, that update revealed that trading during the Black Friday/Cyber Monday sales events this year was exceptionally strong.

Temple & Webster's CEO, Mark Coulter, commented:

The Black Friday-Cyber Monday trading period continues to grow in importance as customers bring their Christmas shopping forward. This year the 4-day period delivered $17.4m in sales, up 101% on last year, and included multiple record days.

This appears to demonstrate that consumer spending online has been strong during this important part of the year for retailers.

Though, it is worth remembering that Cettire and Kogan operate in very different areas of the market to Temple & Webster. So, just because Temple & Webster, which sells furniture and homewares online, has doubled its sales, doesn't mean that Kogan or online luxury products retailer Cettire have also performed strongly.

In fact, with respect to Cettire, a number of luxury retailers have reported softer-than-expected sales recently. Whereas for Kogan, not only is it battling Amazon in Australia, but it also now has Chinese budget retailer Temu winning significant market share.

We'll find out in February how they performed over the holiday period.

Motley Fool contributor James Mickleboro 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 and Temple & Webster Group. The Motley Fool Australia has recommended Cettire, Kogan.com, and Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Consumer Staples & Discretionary Shares

businessman handing $100 note to another in supermarket aisle representing woolworths share price
Consumer Staples & Discretionary Shares

Everything you need to know about the Woolworths dividend

Woolworths will pay out its largest interim dividend in three years in 2024.

Read more »

A man looks a little perplexed as he holds his hand to his head as if thinking about something as he stands in the aisle of a supermarket.
Consumer Staples & Discretionary Shares

Woolworths share price dives 7% following Banducci bombshell

ASX 200 investors are pressuring the Woolworths share price today amid the shock departure of CEO Brad Banducci.

Read more »

Two parents and two children happily eat pizza in their kitchen as a top broker predicts a 46% upside for the Domino's share price
Earnings Results

Domino's share price charges higher on improving outlook

Here's how this struggling pizza chain operator performed during the first half.

Read more »

two men in suits with their backs to the camera walk off into a sunset on a city street with one placing his hand on his companion's shoulder as if in a fond gesture.
Earnings Results

Woolworths shares on watch after CEO exit and $781 million loss

Brad Banducci retires as New Zealand business devastates the supermarket's bottom line.

Read more »

Money Wealth Coin on Shopping Cart and grow up as creative investment ideas.
Dividend Investing

If I invest $10,000 in Woolworths shares, how much dividend income will I receive in 2024?

The supermarket giant is due to report its 1H FY24 results and interim dividend tomorrow.

Read more »

A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today
Earnings Results

Guess which ASX 200 stock is surging 13% after solid half-year result

This stock is charging higher after investors responded positively to its results release.

Read more »

Young man sitting at a table in front of a row of pokie machines staring intently at a laptop. looking at the Crown Resorts share price
52-Week Lows

Star Entertainment share price crashes 26% upon return to trade

This is a new 52-week low.

Read more »

jumbo share price
Consumer Staples & Discretionary Shares

A fund manager is betting on this ASX 300 stock. Is it a buy?

WAM has picked out a compelling stock to buy.

Read more »