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Even though the COVID-19 Delta variant threatens to delay economic recovery, stimulus packages and advance child tax credits from the Biden administration are expected to boost retail sales in the coming months. Furthermore, with schools reopening this fall, the retail industry expects total back-to-school spending to cross $100 billion and rise 6.4% year-over-year.
So, as shoppers head back to brick-and-mortar stores, major retailers Walmart Inc. (WMT), Target Corporation (NYSE:TGT), and Kohl’s Corporation (KSS) have raised their sales forecasts, and we think these stocks are well-positioned to deliver significant upside in the near term.
