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While the broader market is grappling with significant declines on Friday, several ASX-listed companies are defying the trend and showing resilience. Here's a look at three consumer stocks that are making notable gains amidst the current market volatility
Adore Beauty Group Ltd (ASX:ABY)
Adore Beauty's share price has surged by 4.62% to AU$0.905 following a positive trading update released this morning. The online beauty retailer reported unaudited revenue of AU$195.7 million for FY 2024, marking a robust 7.4% increase compared to the previous year. Despite challenging retail conditions, management remains optimistic about their performance. Additionally, Adore Beauty expects its FY 2024 EBITDA margin to range between 2.2% to 2.5%, translating to approximately AU$4.3 million to AU$4.9 million in EBITDA.
Domino's Pizza Enterprises Ltd (ASX:DMP)
Domino's Pizza shares have risen by 2% to AU$33.81, buoyed by a bullish broker note from Goldman Sachs. The note highlighted Domino's shift towards prioritising store unit economics over rapid store expansion, prompting Goldman Sachs to upgrade their rating on the stock to a buy with an improved price target of AU$ 42.20, up from AU$ 36.30. This strategic adjustment aims to restart a growth cycle driven by stronger operational fundamentals.
Universal Store Holdings Ltd (ASX:UNI)
Universal Store's share price has climbed 6.41% to AU$5.81 following a strong trading update from the youth fashion retailer. The company reported robust financial performance, expecting group sales growth of 9.7% to reach AU$288.5 million in FY 2024. Additionally, underlying EBIT is anticipated to be between AU$46 million to AU$47 million, reflecting a year-on-year increase of 13.9% to 16.3%. Management expressed satisfaction with the continued strong momentum, extending into July.
