3 ASX 200 retail shares that ripped in 2024 despite the cost-of-living crisis

Most Australian consumers did it tough last year amid higher interest rates and retail prices.

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ASX 200 consumer retail shares did not have the year one might have expected during a cost-of-living crisis.

In fact, the S&P ASX 200 Consumer Discretionary Index (ASX: XDJ) was the third strongest of the 11 market sectors, with retail shares booking strong capital growth of 20.71%.

Let's take a look at the three best-performing ASX 200 retail shares of the year for share price growth.

3 ASX 200 retail shares that cashed in during the 'cozzie-livs' crisis

Guzman Y Gomez Ltd (ASX: GYG)

Mexican restaurant operator Guzman Y Gomez Ltd only began trading on the ASX in June, but its share price rose faster than all other ASX 200 retail shares last year.

The Guzman Y Gomez share price soared by 84.4% from its initial public offering (IPO) price of $22 per share to its closing value of $40.57 on 31 December.

The stock entered the ASX 200 in September.

For FY24, Guzman Y Gomez reported revenue of $342.2 million, up 32.1% year over year (yoy). Global network sales came in at $959.7 million, up 26.4%.

Statutory earnings before interest, taxes, depreciation, and amortisation (EBITDA) was $27.3 million, down 7.9%. There was a statutory loss before tax of $11.6 million, down from a profit before tax of $200,000 in FY23.

The company noted that non-recurring costs associated with its ASX IPO significantly impacted the numbers. The 'pro forma' figures, with those costs stripped out, looked a lot better.

Pro forma net profit after tax (NPAT) was $5.7 million, up 94.1% yoy. Pro forma EBITDA was $44.8 million, up 52.9%. Pro forma profit before tax was $16.3 million, up 113.7%.

Goldman Sachs has a sell rating on Guzman Y Gomez shares with a 12-month price target of $33.20.

JB Hi-Fi Ltd (ASX: JBH)

JB Hi-Fi shares recorded the second-highest level of share price growth within the ASX 200 retail sector last year.

The JB Hi-Fi share price ascended 74.8% to close at $92.68 on 31 December.

For FY24, JB Hi-Fi reported a modest 0.4% yoy decline in total sales to $9.59 billion. Earnings before interest and tax (EBIT) was down 11% to $647.2 million, and NPAT was 16.4% lower at $438.8 million.

This was better than market analysts had expected, with the share price soaring on the day of the results.

Goldman Sachs has a sell rating on JB Hi-Fi shares with a 12-month price target of $66.90.

Aristocrat Leisure Ltd (ASX: ALL)

ASX 200 retail gaming share Aristocrat Leisure rounds out the sector's top three stocks for growth in 2024.

The Aristocrat share price lifted 67.5% to close at $68.36 on 31 December.

For FY24, Aristocrat reported a 5% increase in revenue to $6.6 billion. Operating earnings leapt 19% to $2.47 billion on the back of strong growth in North America and the NeoGames acquisition.

Excluding one-off costs, Aristocrat's net profit was 8% lower at $1.4 billion for the financial year.

Citi has a buy rating on Aristocrat shares with a 12-month share price target of $74.

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Jb Hi-Fi. 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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