Most discretionary retail is down today.
JB HiFi put out a trading update with 13% sales growth in Q3 but the market was expecting more. Also JBH CEO resigned to move to CEO role at Premier Investments (Solly Lew). JBH is down $1.80 -3.8% to $45.72 earlier this morning it fell to $44.25
ADH is down 3% today to $4.59. Just 4 days ago it reached a new all time high of $4.97.
Today's fall is in sympathy with JBH.
The market is betting that sales growth in Q3 and Q4 will be negative as it is comping a very strong sales growth and profit result in Q3+Q4 FY'20
Coles put out a sales update for Q3 with sales down 5.1% with the market expecting a -9% fall.
Many analysts and retail investors forget that the bulk of Bapcor's profit is driven by trade sales to mechanics workshops and that business is flying. Traffic congestion is now worse than pre Covid and Bapcor and Repco will be reaping the rewards.
All those cars going on driving holidays are serviced in workshops.
All those expat's returning to Australia to escape Covid are buying 2nd hand cars and that is bread and butter for Bapcor and Repco.
Ann: Bapcor Investor Day - 24 June 2021, page-9
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Last
$5.06 |
Change
-0.010(0.20%) |
Mkt cap ! $1.717B | |||
| Open | High | Low | Value | Volume |
| $5.05 | $5.09 | $4.98 | $3.973M | 789.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1356 | $5.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.07 | 6805 | 3 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| BAP (ASX) Chart |