Everything is fine: ASX consumer CEOs soothe investors amid rate hikes, global upheaval
The chief executives of Qantas, Wesfarmers and Endeavour Group fronted investors at the Macquarie Australia Conference as another rate hike loomed large.
Attendees at the Macquarie Australia Conference in Sydney on Tuesday may well have found themselves convinced that now is a booming era for consumer stocks.
The chief executives of three of the country’s biggest consumer companies held fireside chats in the midst of surging fuel costs, rising interest rates and sliding consumer sentiment — but each one summoned a surprisingly rosy tone.
“We’re in a really advantaged position,” said Endeavour Group chief executive Jayne Hrdlicka, whose company’s share price has shed around 20% since the first US-Israeli attacks on Iran on 28 February.
They slumped again on Monday after the Dan Murphy’s and BWS owner announced a $100 million cost reduction program, including layoffs in its support office.
