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Consequently, the National Retail Foundation (NRF) has upgraded its 2021 retail sales forecast and expects personal consumption expenditures to grow 7.5% year-over-year rather than 4.5% predicted earlier. NRF Chief Economist Jack Kleinhenz said, “We are seeing clear signs of a strong and resilient economy.”
As economic activities continue to build up steam, the shares of the big box store operators are expected to deliver significant returns through the remainder of 2021. As a result, we believe the shares of leaders in this space, Walmart Inc. (WMT), Costco Wholesale Corporation (NASDAQ:COST), Target Corporation (NYSE:TGT), and Big Lots, Inc. (BIG), should be attractive bets now.
