3 Department Store Stocks to Buy Now Ahead of a Potential Record Setting Holiday Season -Breaking
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© Reuters. Get 3 Stocks from Department Stores Now to Avoid a Record Setting Holiday SeasonMany department stores saw huge increases in demand and beat their earnings estimates during the last quarter. This was due to increased consumer spending and higher retail sales. With sales expected to go up in the upcoming holiday season, it could be wise to bet on quality department store stocks Macy’s (M), Kohl’s (KSS), and Dillard’s (DDS).As the economy continues to recover, foot traffic at physical department stores has also increased. In October, U.S. retail sales jumped 1.7% despite concerns about rising living costs.
The rising inflation seems to be causing people no problems. So it’s no surprise that for 2021, the NRF is predicting the highest holiday retail sales on record.
Given this backdrop, it could be wise to add quality departmental store stocks Macy’s, Inc. (M), Kohl’s Corporation (NYSE:), and Dillard’s, Inc. (NYSE:) to your portfolio now. These two companies have exceeded the earnings estimates from the previous quarter and will continue to grow over the next few months.
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