Morning Report Friday 7 March 2014
After a surprisingly positive Retail Sales Figure yesterday, today I focus on the Retail Sector
Yesterday, retail sales printed +1.2% compared to an expected +0.4% for January.
On Wednesday evening, I went to the local “cheap Thai” with the family. Usually 3 tables full, but that night 13 (I counted). Is the economy turning?
Yesterday, the retail data was embraced by only 3 of our main 5 discretionary retail stocks.
JB Hi-fi (JBH) +2.17%, Myer (MYR) +1.5%, David Jones (DJS) +0.3%, Harvey Norman (HVN) -0.95% and Oroton Group (ORL) -1.8%.
The sector still fails to inspire me, not because of the economy but because of internet evolution not being embraced.
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