Some positive surprises among the consumer stocks, page-4

It looks logical to have a rebound of the share price for a lot of retailers (cf today Dusk, Shaver Shop and Beacon Lighting).
As the retailers/consumers stocks, which have guided/reported so far, show a clear improvement during H2 24 vs H1 24.

Given the pressure on households at the moment, such a trend was not obvious.
I think this improvement is due to several elements :
- even if the consumption/person was weak, it was partly (fully ?) offset by a significant population growth,
- the other major element may be about supply.
I have difficulties to find the growth of the total number of stores in Australia (or more interesting the growth of the total floor space), but looking at the listed retailers, we can see that there was probably less growth in term of new stores during the most recent periods (less store openings and more store closures). The increase of bankrupcies may also have had an impact on the total number of stores.

The improvement for H2 vs H1 for retailers is also due to a weak basis of comparison for Q4.