ASX retail stocks had a terrific year in FY24, collectively rising at more than twice the pace of the benchmark S&P/ASX 200 Index (ASX: XJO) despite higher inflation and interest rates.
The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) rose by 19.29% in FY24 compared to the ASX 200, which lifted 7.83% (dividend returns excluded).
The best three ASX retail stocks for share price growth in FY24 were budget jeweller Lovisa Holdings Ltd (ASX: LOV) at 70.3%, Smiggle and Just Jeans owner Premier Investments Limited (ASX: PMV) at 53.8%, and computer and electronics retailer JB Hi-Fi Ltd (ASX: JBH) at 39.9%.
Bell Direct market analyst Grady Wulff says investment trends within the retail sector have changed.
In an article published on asx.com.au, Wulff says:
In Bell Direct's view, within retail, there have been shifts from the popularity of furniture retailers in the early pandemic years to the resilience of niche fashion retailers targeting younger generations.
Let's check out what's been happening with some of these stocks since the early pandemic years.
Young and groovy ASX retail stocks are in, says expert
Among the big-name ASX retail shares in the home furniture game are Harvey Norman Holdings Limited (ASX: HVN), Nick Scali Limited (ASX: NCK), and Temple & Webster Group Ltd (ASX: TPW).
Among the niche fashion brands targeting younger generations are Lovisa and youth clothing company Universal Store Holdings Ltd (ASX: UNI).
The following charts show how the share prices of these ASX retail stocks have moved over five years.
Nick Scali share price
The Nick Scali share price is $14.81 on Tuesday, down 2.92%.
Over the past five years, stock in the ASX furniture retailer has risen by 126.3%.
Nick Scali released its FY24 results last Friday, revealing a 7.8% fall in revenue and an underlying net profit after tax (NPAT) of $82.1 million.
Harvey Norman share price
The Harvey Norman share price is $4.85 on Tuesday, up 2.22%.
Over the past five years, Harvey Norman shares have lifted 8.63%.
Temple & Webster share price
This ASX retail stock is soaring on Tuesday, up 23.16% to $11.70 per share.
This follows the release of the company's FY24 results. The ASX furniture retailer revealed a 26% increase in revenue to a record $498 million but a 78% decline in NPAT to $1.8 million.
Over the past five years, Temple & Webster shares have risen 627%.
Lovisa share price
The Lovisa share price is $33.48 on Tuesday, down 0.36%.
Over the past five years, the ASX retail jewellery stock has risen by 194%.
Universal Store share price
The Universal Store share price is $6.10 on Tuesday, up 1.5%.
Over the past five years, the youth casual apparel ASX retail stock has risen 45%.
