ASX fashion stocks to beef up your portfolio

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ASX fashion stocks to beef up your portfolio

ASX, fashion stocks
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Highlights

  • Consumers’ discretionary spending continued to be strong by the end of 2021.
  • Sales of clothing, footwear, and personal accessories rose by 38.2% in November last year.
  • Despite COVID-19 induced volatility and widespread impacts, several ASX-listed fashion stocks have been delivering strong performance.

Be it offline or online, fashion business runs across an indefinite arena. There are numerous companies at local, national, and international level that have been gaining traction amid growing interest of greater masses in the world of fashion.

Moreover, recent data released by the Australian Bureau of Statistics indicated a strong increase of 7.3% in retail turnover for November 2021. The clothing, footwear and personal accessory retailing registered an excellent increase of 38.2% during the reported period.

Must Watch: Retail sales hit record high pre-omicron

Let us look at few ASX-listed stocks across clothing, footwear, and personal accessory retailing that remained on investors’ radar.

ASX, fashion stocks  

Data source: ASX, as of midday 24 January 2022

Also Read: Domestic retail trade soars, international trade takes a backseat

City Chic Collective Limited (ASX:CCX)
ASX-listed multi-channel retailer, City Chic Collective has become a popular shopping destination for apparel, footwear, and accessories for curvaceous women. The Company offers a wide array of internationally recognised plus size brands.

For the 26-week period ended 26 December 2021, the Company achieved sales revenue of AU$178.3 million, up 49.8% from the year-ago period. Active customer base grew by 23% to 1.316 million.

Also, unaudited underlying EBITDA came in the range of AU$22.5-23.5 million.   

Lovisa Holdings Limited (ASX:LOV) 

Image source: © Guyharrisg | Megapixl.com

Also Read: 5 fashion retail stocks to watch amid increasing consumer discretionary spending

Founded in 2010, Lovisa has emerged as one of the leading specialists in the fast fashion retail industry of Australia.

The brand has a network of around 550 outlets across Australia, Singapore, New Zealand, Malaysia, the US, the UK, South Africa, France, Austria, Luxembourg, Netherlands, Belgium, Germany, and Switzerland. It also hosts franchised stores in the United Arab Emirates, Kuwait, Saudi Arabia, Qatar, Oman, and Bahrain.

In FY21, the firm posted an increase of 18.9% in revenue on FY20 with comparable sales up by 8.1% on that period. Also, Lovisa delivered EBIT of AU$42.7 million for the year and reported a net cash of AU$35.6 million at year end with no debt.

Michael Hill International Ltd (ASX:MHJ)
Michael Hill, an international multi-channel retail jewellery chain, runs over 290 stores at different locations across Australia, Canada and New Zealand with a team of more than 2,500 employees.

The Company got listed on the Australian Securities Exchange (ASX) in 2016 and has a secondary listing on the New Zealand Stock Exchange (ASX/NXZ Code: MHJ).

In Q2 ended 26 December 2021, the Company registered strong sales growth in all markets and channels. All store sales were up 9.8%, while same store sales increased by 9.6%.

The Company expects group comparable EBIT in the range of AU$49-53 million for H1 FY22. 

Do read: How Michael Hill reported record Christmas sales despite COVID-19 closures

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