Tax cuts fueling revival in Australia's discretionary spending, Morningstar says
** Analysts at Morningstar expect a broad rebound in retail spending from fiscal 2025 in Australia, reflecting meaningful tax cuts coupled with larger workforce and higher wages
** Brokerage says significant interest rate cuts by the local central bank could support consumer sentiment and present upside risk to our near-term outlook
** Morningstar says trading momentum for discretionary items have already been picking up with sales growth as Woolworths' WOW.AX Big W discount stores and Super Retail's SUL.AX chains
** Sales momentum is also strengthening at electronics goods retailers JB Hi-Fi JBH.AX, Harvey Norman HVN.AX, and Kogan KGN.AX
** Brokerage does not have a positive outlook on supermarkets as rising costs are weighing on operating margins
** Supermarkets also face heightened public scrutiny - Morningstar
** Supermarkets have lost share of the consumer's wallet as shoppers prefer eating and drinking outside the home, says Morningstar
Reporting by Rishav Chatterjee in Bengaluru
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