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2 Retail Stocks That Handily Beat Earnings Estimates -Breaking

by Mike Robinson

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© Reuters. 2 Retail Stocks Beat Earnings Estimates

As social distancing laws are phased out, the retail sector has seen an increase in foot traffic. Additionally, sales of retail products are likely to rise significantly when the U.S. holiday season begins. Given solid demand, we think retail stocks Buckle (NYSE:) and The Children’s Place (PLCE) could be solid bets now. These stocks also beat the consensus earnings estimates for their most recent quarter. Keep reading. E-commerce sales are on the rise since the COVID-19 epidemic. In-store shopping is also gaining popularity as social distancing orders have been removed.

The October U.S. retail sales rose 1.7% in October month-over-month, exceeding the 1.4% forecast. This marks the sector’s strongest gains since March. National Retail Federation (NRF), predicting that seasonal spending will surpass all previous records, predicts sales growth of between 8.5%-10.5% in November and December compared to 2020.

The holiday season is expected to be a good year for shopping, even though there are concerns about supply. Hence, we think retail stocks The Buckle, Inc. (BKE) and The Children’s Place, Inc. (NASDAQ:), which beat their earnings estimates in their most recent quarter, could be solid additions to one’s portfolio.

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