Business

ASX retail shares show strong signs of resurgence

Published

5 years ago

February 9, 2021

Australia’s retail industry has demonstrated its resilience over the past six months. Despite dire predictions at the start of the COVID-19 pandemic, ASX retail shares have performed strongly with rising sales and profits.

According to the Australian Bureau of Statistics, retail sales rose 2.5% in the December quarter on a seasonally adjusted basis. This follows a 6.5% rise in the September quarter. Consumers unable to travel are instead choosing to spend discretionary income on homewares, furniture, and electronics.

ASX retail shares are taking advantage of these shifting spending patterns and outperforming the dire predictions that proliferated last year.