It's a good day to be an S&P/ASX 200 Index (ASX: XJO) retail share after the Australian Bureau of Statistics (ABS) dropped its latest retail trade data.
Australian retail turnover rose 0.9% in April – the fourth month in a row the measure has risen. In fact, Aussies spent a whopping $33.9 billion online and in stores last month amid inflationary pressures.
The news has likely helped bolster the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) today. It's currently 1.9% higher, driven by some of its most renowned retail shares.
Meanwhile, the ASX 200 is currently up 1.09%.
Let's take a closer look at what's going on with ASX 200 retail shares on Friday.
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ASX 200 retail shares take off on Friday
ASX 200 retailers are among the market's leaders today amid news Australia's retail turnover has increased 9.6% over the 12 months ended April 2022.
Clothing and footwear retailers recorded one of the biggest increases last month, lifting 3.1%.
That's likely good news for ASX 200 shares City Chic Collective Ltd (ASX: CCX) and Premier Investments Limited (ASX: PMV). Indeed, their share prices have gained 6.42% and 1.83% on Friday.
Meanwhile, the retailing category — into which a lot of Super Retail Group Ltd (ASX: SUL)'s business falls – lifted 0.5% last month. The company's stock is currently enjoying a 1.3% gain.
It wasn't such a pretty picture for companies selling household goods, however.
Sales for goods sold by the likes of JB Hi-Fi Limited (ASX: JBH) and Harvey Norman Holdings Limited (ASX: HVN) slumped 2.7% in April but the company's share prices, thankfully, haven't received the memo. They've gained a respective 3.44% and 1.39% at the time of writing.
Conglomerate Wesfarmers Ltd (ASX: WES) – the company behind retail giants Bunnings, Officeworks, and Kmart – is also in the green today. Its stock has gained 1.65% right now.
The biggest increase in spending exhibited by Aussies last month was on food. Spending on food retailing and cafes, restaurants, and takeaway food services rose 1.9% and 3.3% respectively.
"The strength in retail turnover is being driven by spending across the food industries," ABS director of quarterly economy-wide statistics Ben James said.
"High food prices have combined with increased household spending over the April holiday period as more people are travelling, dining out, and holding family gatherings."
