From Nasdaq:

The fourth-quarter 2023 earnings season is underway, with 396 S&P 500 companies reporting 5.1% earnings growth and 3.4% higher revenues. Five retail giants are expected to beat earnings estimates, driving stock prices in the near future.

Despite interest rates at a 22-year high, the U.S. economy remains resilient, contributing to robust Q4 2023 retail sector performance. Mastercard SpendingPulse reported holiday sales below expectations, while NRF projects 3-4% growth in U.S. holiday retail sales for 2023.

Five Zacks Rank 3 retail stocks with a positive Earnings ESP are poised to beat earnings estimates this month, including Walmart, The Home Depot, The TJX Companies, Best Buy, and eBay, all expected to release earnings results in February.

Walmart has seen improved earnings growth and raised fiscal 2024 views due to a focus on omnichannel initiatives. The Home Depot’s interconnected retail strategy and technology investments have boosted web traffic. The TJX Companies’ off-price business model and effective marketing initiatives are contributing to growth. Best Buy is focused on elevating unique experiences and omni-channel capabilities, while eBay is benefiting from first-party advertising products.



Read more: 5 Giant Retailers Likely to Gain on Earnings This Month