The ASX share market continues to be volatile, with the S&P/ASX 200 Index (ASX: XJO) currently down by 0.75%. Some ASX retail shares are suffering.
Whilst the ASX's resource sector is helping the index, there are some businesses on the ASX that are hitting 52-week lows. Investors are selling off some companies pretty hard.
Each of the below retailers suffered from store closures and other COVID-19 impacts during the first six months of FY22.
These are some of the ASX retail shares that hit 52-week lows:
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Super Retail Group Ltd (ASX: SUL)
The Super Retail Group share price was one of the ones that hit a 52-week low earlier today. It's currently down 1.6% to $9.82.
Super Retail is the parent business of a few different brands including Super Cheap Auto, Rebel, BCF and Macpac.
The ASX retail share recently reported its FY22 half-year result which showed that revenue and profitability went backwards. Headline sales were down 4% to $1.7 billion and normalised net profit after tax (NPAT) fell by 35.8% to $112.8million.
Accent Group Ltd (ASX: AX1)
The Accent Group share price dropped to $1.66 earlier today. However, it's currently down 1.75% to $1.68.
Accent is a shoe retailing business that sells through a wide range of different stores and brands. Some brands it owns, others it is the distributor for. It's responsible for these brands: The Athlete's Foot, Stylerunner, Reebok, Dr Martens, VANS and Skechers.
Like Super Retail, Accent also told shareholders that the first half suffered a significant drop in profit.
Accent reported first-half sales were up 9.7%, boosted by online sales growth. However, the ASX retail share's earnings before interest and tax (EBIT) dropped by 62.9% to $30.3 million, whilst NPAT fell harder, declining 72% year on year to $14.8 million.
City Chic Collective Ltd (ASX: CCX)
The City Chic share price fell to $3 today. It was another retailer that hit a 52-week low. It's down 10% at the time of writing.
City Chic is a global retailer of plus-size clothing for women. It also sells footwear and accessories. The ASX retail share has a number of different brands including City Chic, Evans, Avenue, Navabi and more.
In the FY22 first half, City Chic reported that whilst sales revenue jumped 49.8% to $178.3 million, underlying net profit was $14 million, in line with last year, meaning that the profit margin fell.
