Relief rally in retail stocks continues as buyers ‘hit pause’
Joshua PeachMarkets reporter
Updated
More signs of a tough start to fiscal 2024 for retailers are failing to deter investors from the sector, with a surprise contraction in retail sales doing little to deter a rally in consumer discretionary stocks on Tuesday.
The sector climbed 0.5 per cent, led by homewares seller Adairs, which gained 3.9 per cent to $1.60, alongside electronics retailer JB Hi-Fi, which added 1.1 per cent to $46.51, while online retailer Kogan gained 0.6 per cent to $4.80.
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