If you’re looking to make a long term investment in a collection of ASX growth shares, then the three listed below could be worth considering.

I believe all three have the potential to deliver returns that smash the market over the next decade. Here’s why I would invest $3,000 into them:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first option for growth investors to consider buying is the BetaShares Asia Technology Tigers ETF. This exchange traded fund provides investors with exposure to a number of exciting tech shares in the Asian market. These include the likes of ecommerce giants Alibaba and JD.com, search engine company Baidu, and new Afterpay Ltd (ASX: APT) shareholder and WeChat owner, Tencent. Given how these companies are revolutionising the lives of billions of people in the region, I believe they are well-positioned for strong growth over the next decade.

Cochlear Limited (ASX: COH)

Another ASX growth share to consider buying is Cochlear. I like this hearing solutions company due to its exposure to the ageing populations tailwind. As people age, their hearing will often fade and require some form of assistance. I expect this to lead to increasing demand for hearing solutions products over the next couple of decades. Given Cochlear has industry-leading products and a wide distribution network, I expect it to benefit greatly from this.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another top ASX growth share to buy could be Domino’s Pizza. I believe the pizza chain operator is well positioned to deliver more than just pizzas over the next decade. I expect a helping of strong returns as well. Especially given its same store sales and store expansion goals. Over the next five years the company is aiming to deliver annual same store sales growth of 3% to 6% and annual organic new store additions of 7% to 9%. If it can maintain its margins, this should support strong earnings growth over the next decade.

More reading

• 3 ETFs perfect for an ASX growth investor
• ASX retail stocks facing new billion-dollar earnings scare during COVID-19 recovery
• How to become a millionaire with a $5,000 investment in ASX 200 shares each year
• 2 top ETFs for high growth
• $3,000 invested in these 3 ASX industries could make you a fortune in the future

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool Australia has recommended Cochlear Ltd. and Domino’s Pizza Enterprises Limited. 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.

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With so many shares to choose from on the S&P/ASX 200 Index (ASX: XJO), it can be hard to decide which ones to buy.

The good news is that brokers across the country are doing a lot of the hard work for you.

Three top shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Sydney Airport Holdings Pty Ltd (ASX: SYD) 

According to a note out of Goldman Sachs, its analysts have reiterated their buy rating and $7.00 price target on this airport operator’s shares following its annual general meeting. The broker believes that management’s commentary fits with its expectations for a staged recovery in passenger volumes over the medium term. In light of this, it believes Sydney Airport’s shares are cheap at the current level. I agree with Goldman Sachs and would be a buyer of its shares today.

TPG Telecom Ltd (ASX: TPM)

Analysts at Morgans have upgraded this telecommunication company’s shares to an add rating with an improved price target of $9.14. The broker sees a lot of positives in its merger with Vodafone Australia. It expects it to benefit from cost savings and their combined cash flows which can be used for capital expenditure activities. While it isn’t my top pick in the industry, I do think Morgans makes some great points and TPG Telecom could be worth a closer look.

Wesfarmers Ltd (ASX: WES)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating but cut the price target on this conglomerate’s shares slightly to $39.40. According to the note, the broker believes the conversion of Target stores into Kmart stores is a good move and could give its earnings a big boost in the future. It also believes the Catch business is well-positioned for growth after adding Kmart and Target goods to its marketplace. While Wesfarmers’ shares have now pushed beyond this price target, I would still be a buyer with a long term view.

More reading

• ASX 200 up 1.7%: Flight Centre and Webjet rocket, Afterpay hits record high
• Telstra share price down 21% since February. Is it now in the buy zone?
• Should you invest $1,000 in Altium shares today?
• 3 commodity trends to watch this week
• Why Afterpay, Flight Centre, TPG Telecom, & Western Areas are charging higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers Limited. 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.

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The City Chic Collective Ltd (ASX: CCX) share price has taken off in early trade this morning on the back of a COVID-19 update. The ASX retail share announced strong online sales growth, profitability through the pandemic, and the staged re-opening of stores across Australia and New Zealand.

City Chic is a global, omnichannel retailer that specialises in plus-size women’s apparel, footwear and accessories. It is a collective of customer-led brands, including City Chic, Hips & Curves, and Avenue, the latter of which was acquired towards the end of last year.

The company’s omnichannel model comprises a network of more than 100 stores across Australia and New Zealand, multiple websites operating in Australasia and the US, and wholesale partnerships with major retailers, including Nordstrom, ASOS, and Macy’s.

What did City Chic announce?

One of the key takeaways from this morning’s announcement is that City Chic has managed to trade profitably through the period of COVID-19-related restrictions.

On 27 March, City Chic made the move to temporarily close its brick-and-mortar stores. However, being an omnichannel retailer with online contributing two-thirds of its global sales, most of City Chic’s business has continued to operate. 

Notably, the company revealed 57% online sales growth during the store closures compared to the same period last year.

City Chic has been adjusting its product mix to suit a change in customer behaviour, with strong buying of intimates, casual and streetwear offsetting weaker demand for ‘better-end dressing’. However, the retailer flagged it has been “more promotional” in order to manage cash flows and inventories, which has led to lower online gross margins.

How has City Chic responded to COVID-19?

Over the past 8 weeks, City Chic has implemented a number of measures to minimise the impact of the closure of its store network. With this, the retailer has driven working capital efficiencies, reduced head office costs, and deferred non-essential capital expenditure.

Additionally, City Chic has negotiated reduced rents with a large majority of landlords, along with “market appropriate go-forward rents” while uncertainty relating to COVID-19 remains.

The retailer notes it is in a strong financial position with minimal debt and significant headroom in its $40 million debt facility.

Over the past 2 weeks, City Chic has trialled a number of stores to ensure it is able to open its store network with the appropriate safety and hygiene measures in place.

After closing on Friday at a price of $2.44, City Chic shares jumped as much as 13.52% this morning to an intra-day high (so far) of $2.77. Pulling back somewhat to sit at $2.65 at the time of writing, the City Chic share price is back in positive territory for the year with a 4.74% gain year-to-date.

More reading

• 3 industries that may never recover from COVID-19
• Here’s how Goldman Sachs rates these mid cap ASX shares
• Who said ASX retail shares were dead?

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

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