Is Grocery Outlet a Good Consumer Defensive Stock to Own? -Breaking
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© Reuters. Grocery Outlet is a good stock to own as a consumer defensive stock?Grocery Outlet (GO), a big-box retailer, saw its shares rise 15.6% due to increased retail sales in advance of the holiday season. Can the stock continue its rise despite rising inflation and supply limitations, as well as increasing COVID-19 incidences across the nation? Continue reading to find out more. Grocery Outlet Holding Corp. (NASDAQ) is a company that owns and operates a number of independent stores throughout the United States. It operates around 400 stores in California, Washington and Oregon.
The company’s shares rose 15.6% over the past three months, fueled by the rising retail sales ahead of the holiday season. Consumers began holiday shopping before Thanksgiving because of news about supply chains becoming choked and increasing prices.
However, stock prices have fallen 27.6% during the last year. Consumer behavior has changed due to rising grocery costs, which reached their highest point in more than a decade. GO might also suffer from the increasing number of COVID-19-related cases in the country.
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