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The businesses that have recorded big profits amid coronavirus

3AW News
Article image for The businesses that have recorded big profits amid coronavirus

COVID-19 restrictions haven’t equated to tough financial times for everyone.

Some retailers have benefited from coronavirus spending and recording record share prices.

The Reject Shop’s share price jumped above $7 yesterday, its highest level in two years and an enormous increase from its March low of $2.40.

Harvey Norman’s sales to the end of May are up 17.5 per cent, with its share price jumping almost 8 per cent yesterday.

Wesfarmers might be closing many Target stores, but they appear to be one of the biggest beneficiaries from the pandemic, closing up 5 per cent yesterday

Sales at Bunnings are up 19 per cent, and at Officeworks sales are up 28 per cent.

The figures come as consumer sentiment surveys start to rebound.

Shares soar and unemployment forecast improves ā€” BUT…

(Image: Brent Lewin/Bloomberg via Getty Images)

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