Retail sales have been increasing with the advent season fast approaching, thanks to increased consumer spending as well as attractive discounts and deals online. We believe it would be smart to invest in quality retail stocks Best Buy (BBY), Ulta Beauty(NASDAQ:), Genuine Parts/GPC, Williams-Sonoma/NYSE: Each of them are currently trading lower than their 52-week highs. Keep reading. The holiday season is encouraging optimism among retailers despite supply chain disruptions and high inflation. Experts believe that this optimism will last for a while. According to National Retail Federation’s (NRF) Chief Economist Jack Kleinhenz, the 2021 holiday season appears to be on track to exceed the NRF’s retail sales growth forecast of between 8.5% and 10.5%. And investors’ interest in the retail industry is evident in the VanEck Vectors Retail ETF’s (RTH) 7.6% gains over the past three months versus the SPDR S&P 500 ETF’s (SPY) 3.2% returns.
Furthermore, retailers’ online segments are thriving, owing to increased demand, massive discounts, and the sheer convenience they offer ahead of Christmas and New Year.
We believe it would be prudent to place your bets on solid retail stocks Best Buy Co., Inc., Ulta Beauty, Inc., Inc., Genuine Parts Company, Inc., and Williams-Sonoma, Inc. These stocks trade at a lower level than their 52-week peak.
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