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Moreover, the National Retail Federation (NRF) upgraded its retail sales growth forecast to between 10.5% to 13.5% for this year. The retail industry’s solid comeback in 2021 is evident as the SPDR S&P Retail ETF’s (XRT) has a year-to-date gain of 40.4% versus the broader SPDR S&P 500 ETF’s (SPY) 14.8% return.
In addition to the short-term support from the upcoming holiday season and rising foot traffic, the fundamental strength of prominent retail stocks such as Costco Wholesale Corporation (NASDAQ:COST), BJ’s Wholesale Club Holdings, Inc. (BJ), and Casey’s General Stores, Inc. (NASDAQ:CASY) make them solid long-term bets.
