Narrative Update • Jun 22
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Australian (ASX) General Merchandise and Department Stores Industry Analysis
UpdatedJun 26, 2026
DataAggregated Company Financials
Companies4
- 7D4.1%
- 3M20.1%
- 1Y5.9%
- YTD6.1%
Over the last 7 days, the General Merchandise and Department Stores industry has risen 4.1%, driven by gains from Wesfarmers of 5.8%. This means that the industry has gained 5.9% over the past year. As for the next few years, earnings are expected to grow by 6.2% per annum.
Industry Valuation and Performance
Has the Australian General Merchandise and Department Stores Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 26 Jun 2026 | AU$108.1b | AU$50.4b | AU$3.6b | 22.3x | 30.2x | 2.1x |
| Sun, 24 May 2026 | AU$90.7b | AU$50.4b | AU$3.6b | 21.4x | 25.3x | 1.8x |
| Tue, 21 Apr 2026 | AU$90.9b | AU$50.4b | AU$3.6b | 24.1x | 25.4x | 1.8x |
| Thu, 19 Mar 2026 | AU$92.4b | AU$50.4b | AU$3.6b | 27.9x | 25.8x | 1.8x |
| Sat, 14 Feb 2026 | AU$107.7b | AU$49.5b | AU$3.4b | 24.5x | 31.7x | 2.2x |
| Mon, 12 Jan 2026 | AU$100.8b | AU$49.5b | AU$3.4b | 23.7x | 29.7x | 2x |
| Wed, 10 Dec 2025 | AU$100.7b | AU$49.5b | AU$3.4b | 24.2x | 29.7x | 2x |
| Fri, 07 Nov 2025 | AU$101.7b | AU$49.5b | AU$3.4b | 24.6x | 30x | 2.1x |
| Sun, 05 Oct 2025 | AU$113.9b | AU$49.5b | AU$3.4b | 27x | 33.6x | 2.3x |
| Tue, 02 Sep 2025 | AU$114.1b | AU$52.2b | AU$3.4b | 35.3x | 33.4x | 2.2x |
| Thu, 31 Jul 2025 | AU$104.9b | AU$51.4b | AU$3.0b | 42.5x | 34.5x | 2x |
| Sat, 28 Jun 2025 | AU$103.7b | AU$52.3b | AU$3.0b | 40.4x | 34x | 2x |
| Mon, 26 May 2025 | AU$102.2b | AU$52.3b | AU$3.0b | 40.2x | 33.5x | 2x |
| Wed, 23 Apr 2025 | AU$92.6b | AU$52.3b | AU$3.0b | 39.2x | 30.4x | 1.8x |
| Fri, 21 Mar 2025 | AU$88.8b | AU$52.3b | AU$3.1b | 28.2x | 28.9x | 1.7x |
| Sun, 16 Feb 2025 | AU$97.9b | AU$51.4b | AU$2.9b | 33.6x | 33.2x | 1.9x |
| Tue, 14 Jan 2025 | AU$87.8b | AU$51.4b | AU$2.9b | 22.2x | 29.8x | 1.7x |
| Thu, 12 Dec 2024 | AU$92.9b | AU$51.4b | AU$2.9b | 23.4x | 31.5x | 1.8x |
| Sat, 09 Nov 2024 | AU$84.8b | AU$51.4b | AU$2.9b | 22.9x | 28.7x | 1.6x |
| Mon, 07 Oct 2024 | AU$85.4b | AU$51.4b | AU$2.9b | 25.2x | 29x | 1.7x |
| Wed, 04 Sep 2024 | AU$88.3b | AU$51.5b | AU$3.0b | 24.7x | 29.9x | 1.7x |
| Fri, 02 Aug 2024 | AU$91.0b | AU$51.0b | AU$2.9b | 16x | 31.2x | 1.8x |
| Sun, 30 Jun 2024 | AU$80.5b | AU$51.0b | AU$2.9b | 14.9x | 27.6x | 1.6x |
| Tue, 28 May 2024 | AU$80.1b | AU$51.0b | AU$2.9b | 15.3x | 27.4x | 1.6x |
| Thu, 25 Apr 2024 | AU$81.5b | AU$51.0b | AU$2.9b | 19x | 27.9x | 1.6x |
| Sat, 23 Mar 2024 | AU$84.3b | AU$51.0b | AU$2.9b | 20x | 28.9x | 1.7x |
| Mon, 19 Feb 2024 | AU$79.0b | AU$51.1b | AU$3.0b | 15.1x | 26x | 1.5x |
| Wed, 17 Jan 2024 | AU$71.3b | AU$51.0b | AU$3.0b | 14.9x | 23.8x | 1.4x |
| Fri, 15 Dec 2023 | AU$68.0b | AU$51.0b | AU$3.0b | 14.2x | 22.7x | 1.3x |
| Sun, 12 Nov 2023 | AU$66.1b | AU$51.0b | AU$3.0b | 13.9x | 22.1x | 1.3x |
| Tue, 10 Oct 2023 | AU$64.6b | AU$51.0b | AU$3.0b | 15.1x | 21.6x | 1.3x |
| Thu, 07 Sep 2023 | AU$67.5b | AU$51.0b | AU$3.0b | 14.8x | 22.4x | 1.3x |
| Sat, 05 Aug 2023 | AU$62.7b | AU$49.2b | AU$3.3b | 14.6x | 19.2x | 1.3x |
| Mon, 03 Jul 2023 | AU$61.6b | AU$49.2b | AU$3.3b | 12.7x | 18.9x | 1.3x |
Price to Earnings Ratio
18.9x
Current Industry PE
- Investors are relatively neutral on the Australian Multiline Retail industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 28.3x.
- The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.1x.
Past Earnings Growth
- The earnings for companies in the Multiline Retail industry have grown 3.2% per year over the last three years, while revenues have remained mostly flat.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the Australian Consumer Discretionary industry?
| AU Market | -1.83% | |
| Consumer Discretionary | 3.82% | |
| General Merchandise and Department Stores | 4.11% | |
| Broadline Retail | 4.11% | |
| Department Stores | 0% | 0 |
| General Merchandise Stores | 0% | 0 |
Industry PE
- Investors are most optimistic about the Broadline Retail industry, which is trading close to its 3-year average PE ratio of 28.3x.
- Analysts are expecting annual earnings growth of 6.2%, which is lower than the prior year's growth of 23.8% per year.
- Investors are most pessimistic about the Broadline Retail industry, which is trading close to its 3-year average of 28.3x.
Forecasted Growth
- Analysts are most optimistic on the Broadline Retail industry, expecting annual earnings growth of 6.2% over the next 5 years.
- However this is lower than its past earnings growth rate of 24% per year.
- In contrast, the Broadline Retail industry is expected to see its earnings grow by 6.2% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| WES Wesfarmers | AU$90.74 | 5.8% +AU$5.7b | 7.9% | PE33.6x | |
| HVN Harvey Norman Holdings | AU$4.88 | 1.0% +AU$62.3m | -6.5% | PE10.8x | |
| MYR Myer Holdings | AU$0.31 | 6.9% +AU$34.6m | -49.6% | PS0.2x |