ABS Reports Impressive 0.4% Rise In November Retail Sales

ABS Reports Impressive 0.4% Rise In November Retail Sales

As per the official data released by the Australian Bureau of Statistics today, Australia has recorded a 0.4% seasonally adjusted (0.2% in trend terms) rise in Retail Sales for the month of November 2018. The positive data stands above the market expectation of 0.3% monthly growth.

The 0.4% November sales growth stands higher than 0.3% growth in October and 0.2% increase in September 2018. The Australian turnover reported a 3.6% rise in November 2018 compared with the corresponding month of the previous year. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

The bounce back in retail sales seems to be supported by pre-Christmas spen ding. This turns out to be a boost to investor risk appetite at a time when market participants were digesting the November Trade Surplus Update released by ABS earlier this week. The Australian economy recorded a trade surplus of $1.925 billion in November 2018, below the market median expectation of $2.175 billion.

The data highlights 0.5% rise in November retail sales for the Clothing, footwear, and personal accessories retail sector, followed by Household goods retailing (0.4%), Food retailing (0.2%), and Cafes, Restaurants and Takeaway services retailing (0.1%).

The Bureau also released region-wise retail sales growth in trend terms. The Queensland and the Australian Capital Territory recorded 0.5% growth, followed by 0.4% growth in Victoria, 0.3% in Western Australia and 0.2% in South Australia and Tasmania for the month of November 2018. New South Wales and the Northern Territory experienced a fall of 0.1% and 0.6% respectively.

There is a lot of related news coming in for Australia’s retail sector. As per the Online Retail Sales Index data released by National Australia Bank (ASX: NAB) on Thursday, the Bank reported a 0.9 % seasonally adjusted increase in the Index as compared to 0.8% in the previous month.

The Fashion retailer, Noni B (ASX: NBL) recently announced a 140% increase in the sales of 1H19 as compared to 1H18, driving high on Black Friday Sale and year-end Christmas festivity spending. The company expects an EBITDA of A$ 29 million in 1H19 as compared to A$22.11 million in 1H18.

On the other hand, another major retail player, Kathmandu Holdings Limited (ASX: KMD) recently released its lower than expected financial results for the 22 weeks ended 30 December 2018 as suggested by 1% decline in same-store sales compared to the previous corresponding period.

Below is the performance of some of the retail stocks settling in green on ASX on 11 January 2019:

Small Cap retail player, Accent Group Ltd (ASX: AX1) reported a 4.18% jump in share price.

The shares of entertainment retailer, JB HI-FI Limited (ASX: JBH) soared by 2.42%, settling at A$21.55. The company’s share price has declined by around 16% over the last three months.

The stock of furniture retailer, Nick Scali Limited (ASX: NCK), zooms by 1.4% ending the day’s session at A$5.07, as compared to the previous close of A$5.00.

The consumer discretionary player with retail franchises, Domino’s Pizza Enterprises Limited (ASX: DMP) is one of the top five significant gainers on ASX 200. DMP shares are up by 3.154% today.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report