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Moreover, according to a ModernRetail report, several apparel retailers are investing in new categories this year to recapture market share, which is expected to drive sales. Also, initiatives to increase the efficacy of vaccines, a rise in consumer spending, growth in e-commerce, and rising foot traffic in retail stores are expected to help boost the apparel industry’s growth.
Given this backdrop, we think it could be wise to scoop up quality apparel stocks H & M Hennes & Mauritz AB (publ) (HNNMY) and Chico’s FAS, Inc. (NYSE:CHS), which are currently trading at less than $10. In addition, these two stocks have an overall B (Buy) rating in our proprietary POWR Ratings system.
