From Nasdaq: 2024-11-18 14:00:00

1. Retail sales in October rose by 0.4%, surpassing economists’ expectations and indicating a positive trend in consumer spending. Sales across various segments, including auto dealers and electronics stores, saw increases, with online sales growing by 0.3%.
2. The Federal Reserve’s rate cuts have bolstered consumer spending, aiding the retail sector’s recovery. Lower borrowing costs have provided consumers with more spending power, leading to a jump in retail sales ahead of the holiday season.
3. Holiday sales are projected to rise by 3.7% year over year in 2024, reaching $1 trillion. Online retail sales are expected to surge by 10.1% this year, accounting for 26% of overall retail sales in 2024.
4. Investing in retail stocks like Amazon.com, Inc., Abercrombie & Fitch, Target Corporation, and Carvana Co. could be beneficial as these companies have seen positive earnings estimate revisions and carry Zacks Rank #1 or 2.
5. Amazon.com, Inc. is a leading e-commerce provider with a strong online retail business and dominance in cloud computing. Abercrombie & Fitch specializes in premium casual apparel, while Target Corporation has transitioned into an omni-channel retailer. Carvana Co. operates as a prominent e-commerce platform for used cars.

Read more at Nasdaq: 4 Retail Stocks to Buy on Growing Sales Ahead of Holiday Season