Since August saw increasing retail sales despite the resurgence of COVID-19 cases and supply chain bottlenecks, we think it could be wise to bet on fundamentally sound retail stocks Target (TGT), Caleres (NYSE:), Tilly’s (NYSE:), and Tile Shop (NASDAQ:) to cash in on solid consumer activity. Keep reading. Economists predicted that COVID-19 and supply chain issues would impact consumer activity and retail sales. However, August saw an increase in sales despite the rise in COVID-19 and other cases.
The overall retail sales for August increased by 0.7%, seasonally adjusted, versus the Dow Jones forecast of 0.8%.
Retail sales will be robust in the next months, so we believe that it would be prudent to place your bets on solid retail stocks Target Corporation, Caleres, Inc., Tilly’s, Inc., TLYS, and Tile Shop Holdings, Inc., (TTSH). These stocks are each rated as a strong buy in our POWR Ratings.
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