STOCK WATCH: Adore Leading the ASX E-Commerce Index

Natasha Sholl By Natasha Sholl | 11 Aug 2021

The Australian Listed E-Commerce Index is ahead of the ASX 200, bolstered by Adore Beauty’s strong results.

Ahead of Adore Beauty’s FY21 full year results presentation on 30 August, the ASX listed company has recorded 43.7% share price growth over 90 days. These strong results have helped drive up the value of the Australian Listed E-Com Index, which is averaging 17.5% growth, easily outperforming the ASX 200 at 7.4%.

As noted last week, Temple & Webster has been a consistently strong performer, with lockdowns in NSW and Vic strengthening its hold in the market. At 23.1% growth over 90 days, investors are confident.

A surprise this week is MyDeal’s comeback. With shares increasing 13.9% over 90 days, jumping to $0.66 from $0.58 in May, this is a positive shift upwards, yet it’s still far from the $0.90+ in share price we were seeing in April. Whether it can keep up this growth and get back to these levels remains to be seen.

Source: Power Retail Australian Listed E-Comm Index, based on ASX reporting

Who else is keeping the E-Commerce Index Average up? Kogan has recorded 12.8% growth over 90 days, closing out at an impressive $11.46 yesterday. It’s not the $13.00+ we were seeing in April, but it is promising in the current climate and ahead of fuerther FY21 announcements.

Cettire has also been pulling its weight in the Australian Listed E-Com Index, recording 27.1% growth over 90 days. It’s had quite a rocky few months, after a trading halt in July and general concerns about its business model. It seems to have stabilised it will be interesting to see if it can maintain this growth with FY21 results being announced at the end of August.

Unlike MyDeal, Redbubble hasn’t shown signs of recovery, shedding 3.4% over the last three months. 

After tracking steadily for most of the year, BikeExchange has dropped 16.7% over the last 90 days. Last week shares were listed at $0.18, dropping below $0.20 for the first time in months. It closed out at $0.20 yesterday, which is promising, though it remains to be seen whether it can continue to make gains.

Booktopia, as always, has remained consistent ahead of FY21 results, recording 3.6% over 90 days. While not the double digit growth we’ve seen with Adore, Booktopia is showing the kind of stability we’ve come to expect from the company. We expect this slow growth to ramp up with FY21 announcements and shares coming out of escrow (in September).

Figures are current as at close of ASX on 10 August 2021. This is analysis only and not intended as investment advice.

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