From Nasdaq: 2024-11-22 08:52:00

The retail sector is on the rise with increasing sales and easing price pressures after Federal Reserve rate cuts. Strong consumer spending is driving growth, making retail stocks a good investment. A shopping spree is expected during the upcoming holiday season, further boosting sales.

Black Friday to Cyber Monday sales are projected to hit $75 billion, a 5% increase from last year. This shopping window is crucial for retailers, with 8% of total holiday sales expected during this period. E-commerce popularity is driving Cyber Monday sales, with online sales already increasing in October.

Retail sales have rebounded, growing 0.4% in October as inflation decreased and borrowing costs lowered. Consumer spending has been robust, rising 0.5% monthly and 3.7% annually. This positive trend bodes well for the retail sector as the holiday season approaches.

Investing in retail stocks like Amazon.com, Tapestry, Casey’s General Stores, and Abercrombie & Fitch could be beneficial. These stocks have seen positive earnings revisions, with strong growth potential. Amazon.com, for example, has a Zacks Rank #2 and an expected earnings growth rate of 78.3% for the current year.

Five stocks are predicted to double in value in 2024, offering a great investment opportunity. These picks have high growth potential and are flying under the radar on Wall Street. Previous recommendations have shown significant returns, making these stocks worth considering for investors.



Read more at Nasdaq: Buy These 4 Retail Stocks With Growth Potential Ahead of Holiday Season