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Highlights
- The ASX retail stocks are likely to suffer significantly amidst the global inflation.
- As a result, today's ASX 200 Consumer Staples sector closed in the red territory on Tuesday.
- WES, WOW, COL and EDV have been garnering investors' attention on the ASX lately.
The S&P/ASX 200 Consumer Staples sector was one of the worst-performing sectors on the ASX yesterday. However, the sector has somewhat resurrected today morning and is currently 0.71% up. The S&P/ASX 200 is also up today, gaining 0.85% to 7,156.10.
Yesterday, the loss in the ASX retail stocks’ share prices could be an impact of the global inflation and increased interest rates by RBA.
Philip Lowe, the governor of RBA, mentioned that although Australia is in a much better place than other bigger economies, yet this time the inflation hit worse than expected. Major factors that drove inflation involved COVID-19 induced pandemics, followed by supply chain disruptions.
In this article, we have discussed the performance of four retail giants of the ASX consumer staples sector- Wesfarmers, Woolworths, Coles, and Endeavour.
Wesfarmers Limited (ASX:WES)
The shares of Wesfarmers Limited (ASX:WES) are trading 0.131% lower at AU$45.520 per share on the ASX today (8 June, 11:20 AM AEST). The ASX-listed retail stock garnered investors' attention today as, so far, more than 1.2 million shares of Wesfarmers have been traded.
The share price of Wesfarmers has fallen over 16% on the ASX over the past 12 months. On the other hand, Wesfarmers' year-to-date share price also fell over 24% on the ASX (as of 8 June).
Also read: Wesfarmers (ASX:WES) anticipates high inventory in 2H22, shares fall
Woolworths Group Limited (ASX:WOW)
Image source: © Tktktk | Megapixl.com
The shares of Woolworths Group Limited (ASX:WOW), at 11:20 AM AEST, are up 1.084% at AU$34.490 per share on the ASX today (8 June). So far, over 500k shares have been traded.
The share price of Woolworths has fallen around 7% on the ASX over the past 12 months. On the other hand, Woolworths' year-to-date share price has fallen over 10% on the ASX (as of 8 June).
Also read: Woolworths to buy 80% stake in MyDeal; how are WOW shares reacting?
Coles Group Limited (ASX:COL)
The shares of Coles Group Limited (ASX:COL) were spotted trading 0.343% higher at AU$17.510 per share on the ASX today (8 June). So far, more than 400k shares of Coles have been traded.
The share price of Coles has gained over 2% on the ASX over the past 12 months. On the other hand, Coles' year-to-date share price fell almost by 2% on the ASX.
Endeavour Group Limited (ASX:EDV)
The shares of Endeavour Group Limited (ASX:EDV) were trading 1.128% higher at AU$7.170 per share on the ASX today (11:28 AM AEST, 8 June). More than 400k Endeavour shares have been traded so far.
The share price of Endeavour has gained over 19% on the ASX over the past 12 months. On the other hand, Endeavour's year-to-date share price also gained over 5% on the ASX today (7 June).
