There’s another sign that the S&P/ASX 200 Index (ASX: XJO) bull run is justified. The indicator was revealed by shopping centre giant Scentre Group (ASX: SCG).
What’s the good news?
The ASX 200 retail landlord released a media update today. Customer visitation at the week ending 24 May 2020 has returned to 80% of what it had been in May the year prior. The coronavirus cloud appears to be lifting.
I think that’s impressive. Approximately 80% of stores are open across Australian Westfield Living Centres and 93% of stores are open across New Zealand Westfield Living Centres.
I imagine more people will want to visit shopping centres once they’re back to 100% open again.
Obviously seeing that Australia’s infection numbers are very low helps. But Scentre said that the safety and hygiene measures are also helping. Some of those initiatives include signage, PA announcements, availability of hand sanitiser and more frequent cleaning in-centre.
There are apparently three top things that we’re looking forward to as easing restrictions ease are: going out for a meal, spending time with loved ones and going out shopping. I think that’s obviously that’s good news for Scentre.
I’m thinking of all of the ASX retailers that sell at Scentre’s locations. Some of the beneficiaries could be Wesfarmers Ltd (ASX: WES), Woolworths Group Ltd (ASX: WOW), Coles Group Limited (ASX: COL), JB Hi-Fi Limited (ASX: JBH), Reject Shop Ltd (ASX: TRS), Lovisa Holdings Ltd (ASX: LOV), Premier Investments Limited (ASX: PMV), Myer Holdings Ltd (ASX: MYR) and so on.
Is Scentre a buy?
The Scentre share price is up 65% since 24 March 2020. I’m not sure how much it will keep recovering. There has been a shift to online sales over the past few months. I believe the return of shoppers to shopping centres is a good sign for Scentre, other retail landlords and the wider economy.
But Scentre wouldn’t be at the top of my share wishlist right now. I’d much rather invest in shares with a long growth runway ahead of them like these ideas…
NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….
Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading over 40% off it’s high, all while offering a fully franked dividend yield over 3%…
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
More reading
- RBA governor says economy “doing better than was earlier feared”
- Why now could be a better time to buy the underperforming CSL share price
- ASX 200 bull market! Why this ASX fundie is getting nervous
- ASX 200 up 2.4%: Blackmores raises $92m, big four banks jump, Nearmap rockets
- The next looming test for the ASX 200 bull market is just round the corner
Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Wesfarmers Limited, and Woolworths Limited. The Motley Fool Australia has recommended Scentre Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Another sign the ASX 200 bull run is justified appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/2zte94M
Leave a Reply