Consumer Discretionary: Reporting Season Wrap
About the author:
- Author name:
- By Alexander Mees
- Job title:
- Co-Head of Research and Senior Analyst
- Date posted:
- 22 September 2023, 7:00 AM
- Sectors Covered:
- Gaming and Retail
- The earnings of discretionary retailers generally exceeded our expectations during the FY23 reporting season, driving a positive inflexion in share prices.
- Demand is proving rather more resilient than might have been expected, but inflation in operating costs is inescapable and will weigh on FY24 earnings.
- Our key picks are businesses with strong brand equity and the ability to grow sales in a subdued consumer environment and to find cost efficiencies.
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