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U.S. retail sales increased 1.7% month-over-month in October, topping the 1.4% market forecast. This marks the sector’s strongest gains since March. In addition, the National Retail Federation (NRF) has predicted seasonal spending will break previous records, forecasting sales to grow between 8.5% – 10.5% versus 2020, during November and December.
Analysts are bullish on the holiday shopping, despite supply worries. Hence, we think retail stocks The Buckle, Inc. (BKE) and The Children’s Place, Inc. (NASDAQ:PLCE), which beat their earnings estimates in their most recent quarter, could be solid additions to one’s portfolio.
