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For immediate release
Chicago, IL – September 21, 2021 – Zacks.com announces the list of stocks featured on the Analysts Blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Recent actions featured in the blog include: Abercrombie & Fitch Co. ANF, Tilly’s, Inc. TLYS, Tapestry, Inc. TPR, HR HR and Haverty Furniture Companies, Inc. HVT.
– Zack
Here are highlights from Monday’s analyst blog:
5 top-ranked retail stocks to buy before the fall season
Market experts were worried about a marked slowdown in the economic recovery in the third quarter. The inventory shortage associated with the spread of the Delta variant of COVID-19 has forced economists to reduce GDP projections for the current quarter. However, sales by US retailers improved surprisingly, crushing concerns about a sharp slowdown in GDP in the third quarter.
The Commerce Department noted that retail sales rebounded in August from July, possibly capitalizing on the back-to-school shopping spree. In fact, sales were mostly driven by an increase in online shopping, which easily offset lower sales at car dealerships. To put it in perspective, sales by U.S. retailers rose 0.7% in August from a revised downward reading of 1.8% in July, citing a Reuters article. The article further stated that retail sales had actually jumped 15.1% last month compared to the period last year and are now up 17.7% from prior levels. the pandemic.
More importantly, online retail sales jumped 5.3% last month after falling 4.6% in July, according to the Reuters report. In addition, sales at clothing stores as well as building supply and furniture stores edged up last month. However, sales at car dealerships have taken a hit due to the global shortage of microchips. Nonetheless, so-called core retail sales, which mainly reflect the expenditure component of GDP, rebounded 2.5% in August after declining downward from 1.9% in July, the article added.
Additionally, the National Retail Federation said that the unexpected increase in retail sales last month showed the continued strength of U.S. consumers and that they expect a strong 2021 for retail sales, including a strong holiday season for US retailers. Additionally, Americans are undoubtedly sitting on excess cash they accumulated during the pandemic and are now ready to splurge. Needless to say, wages are also rising, which can lead to increased spending, which bodes well for retailers in the short term.
Indeed, citing a newswire article, according to Deloitte’s annual sales forecast for the holidays, retail sales for the holiday season are expected to increase by 7% to 9% this year. Retail sales are expected to be between $ 1.28 and $ 1.3 trillion from November to January.
During the holiday season, Deloitte expects e-commerce sales to grow 11-15% year-over-year to $ 210 billion to $ 218 billion. Likewise, Mastercard SpendingPulse noted that excluding autos and gasoline, sales by U.S. retailers are expected to increase 7.4% as consumers are willing to spend more online, as mentioned in a report. articlefibre2mode.
So, given the positive aspects, retailers should see a strong recovery as the fall season approaches. Therefore, it will be prudent to invest in five of the best retail stocks that have Zacks # 1 (strong buy) or 2 (buy) rank.
Abercrombie & Fitch operates as a specialty retailer of premium casual clothing for men, women and children through a network of approximately 850 stores in North America, Europe, Asia and the Middle East. The company has a Zacks Rank # 1. Zacks’ consensus estimate for current year earnings has risen 33.3% in the past 60 days. The company’s expected profit growth rate for the current year is 702.7%.
Tilly’s is a specialist retailer in the action sports industry selling clothing, footwear and accessories. The company has a Zacks Rank # 1. Zacks’ consensus estimate for current year earnings has risen 29.8% in the past 60 days. The company’s expected profit growth rate for the current year is 4,350%.
Tapestry offers lifestyle products, which include handbags, accessories for women and men, shoes, jewelry, seasonal clothing collections, sunglasses, travel bags, perfumes and watches. The company has a Zacks Rank # 1. Zacks’ consensus estimate for current year earnings has risen 8.8% in the past 60 days.
The company’s expected profit growth rate for the current year is 12.5%. You can see The full list of today’s Zacks # 1 Rank stocks here.
HR is one of the leading luxury furniture retailers. The company has a Zacks Rank # 1. Zacks’ consensus estimate for current year earnings has risen 15.4% in the past 60 days. The company’s expected profit growth rate for the current year is 45.3%.
Haverty furniture is a full-service home furnishings retailer. The company has a Zacks Rank # 2. Zacks’ consensus estimate for current year earnings has risen 23.1% in the past 60 days. The company’s expected profit growth rate for the current year is 163.3%.
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Past performance is no guarantee of future results. The potential for loss is inherent in any investment. This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold any security. No recommendation or advice is given as to whether an investment is suitable for a particular investor. It should not be assumed that any investment in any identified and described securities, companies, sectors or markets was or will be profitable. All information is current as of the date hereof and is subject to change without notice. The views or opinions expressed may not reflect those of the company as a whole. Zacks Investment Research does not engage in investment banking, market making or securities asset management activities. These returns come from hypothetical portfolios composed of stocks with a Zacks rank = 1 that have been rebalanced monthly without any transaction costs. These are not the returns of actual equity portfolios. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for more information on the performance figures displayed in this press release.
5 actions in the process of doubling
Each was selected by a Zacks expert as the # 1 favorite stock to earn + 100% or more in 2021. Previous recommendations climbed + 143.0%, + 175.9%, + 498.3% and + 673.0%.
Most of the stock in this report is flying under Wall Street’s radar, which provides a great opportunity to get into the ground floor.
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Abercrombie & Fitch Company (ANF): Free Stock Analysis Report
HR (HR): Free stock analysis report
Haverty Furniture Companies, Inc. (HVT): Free Inventory Analysis Report
Tillys, Inc. (TLYS): Free Stock Analysis Report
Tapestry, Inc. (TPR): Free Stock Analysis Report
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