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The ASX share market has not been kind to some high-quality ASX growth shares. I’d be very happy to buy some of them.

Share prices going down does not mean a business is lower quality. It simply means that sellers are willing to offload shares at a discounted price.

I’m happy to take shares off their hands in this sort of situation.

Geopolitical events shouldn’t have too much impact on the operations or demand of the businesses below. That’s why I think they are ASX share opportunities.

City Chic Collective Ltd (ASX: CCX)

City Chic sells plus-size clothes and other items to women. The City Chic share price has fallen by 45% since the start of 2022.

It has a store network across Australia and New Zealand, as well as an online presence. In the northern hemisphere it has websites, as well as partnerships with a number of retailers.

After making a number of acquisitions, it’s the northern hemisphere which now offers the strong growth outlook for the business.

Evans and Avenue give the company a very strong online presence in the US and UK.

If the company can keep growing sales then it will benefit from the operating leverage the greater scale gives.

City Chic’s stores will seemingly no longer be subject to lockdowns. The supply chain impacts from COVID should also disappear over time, so I think profit margins will be much stronger in FY23.

The global growth profile of this ASX share is attractive and offers strong compound growth in my opinion.

CommSec numbers suggest the City Chic share price is priced at 17x FY23’s estimated earnings.

Temple & Webster Group Ltd (ASX: TPW)

Temple & Webster is one of the leading furniture and homewares retailers in Australia. In the e-commerce world, it’s the biggest online pure play option in Australia.

The Temple & Webster share price has fallen by 39% since the start of the year.

However, the ASX share keeps growing its revenue at a good pace. The HY22 revenue grew by 46% and in the second half of FY22 to 6 February 2022 the revenue increased by another 26%.

I think the business has loads of growth potential. More Aussies are doing more of their shopping online. This is a great tailwind for Temple & Webster.

It’s regularly expanding its product range, increasing its addressable market. It’s now offering the public things like painting supplies, window furnishings, plumbing supplies and so on. Home improvement is a big category.

Over time, I think that Temple & Webster can achieve very good profits when it no longer feels the need to invest so heavily for growth. But whilst it’s investing heavily, the business is doing the right thing to grow its long-term value.

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