WOW -5.61%: it’s not often we see ‘Woolies’ down nearly 6% however the negative sentiment flowing from Target’s result in the US prompted a significant sell-off right across the retail sector in Australia, and not even staples were spared. Rising costs are the main issue here however it’s important to note that WOW and other sector players like Wesfarmers (WES) have not enjoyed the strength that the likes of Target have in the US which has seen their shares rally 2.5x in the last 2 years.
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Performance update for March, stocks that drove returns & our current positioning
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Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
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Market Matters Research Lead Shawn Hickman with David Koch
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MM remains long WOW in our Flagship Growth Portfolio
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