For immediate release
Chicago, IL – October 19, 2023 – Stocks in this week’s article are Urban Outfitters URBN, Walmart WMT, Ross Stores ROST, and The TJX Companies TJX.
5 value stocks with high yields to enhance your portfolio
Despite challenges from the high interest rate environment, US retail sales remained on a positive trajectory in September. Consumer spending, a crucial force driving the economy, remained strong as Americans increased spending on cars, restaurants and bars.
Strong personal consumption is supported by a robust labor market and rising wages. Consumer confidence is recovering as fears of a looming recession fade. In September, the economy created 336,000 jobs, reinforcing the momentum behind the upward trend in consumer spending.
Retail sales increased for the sixth consecutive month in September. Retail spending on fuel surged, but growth in spending on other items remained relatively decent.
A look at retail sales
The Department of Commerce announced that U.S. retail and food service sales increased 0.7% from the previous quarter in September to a total of $704.9 billion. This followed a revised 0.8% increase recorded in August. Impressively, retail sales rose 3.8% year-on-year in September.
The latest report from the Department of Commerce reveals a number of trends in retail sales. Automotive and parts dealer sales increased 1% sequentially. Both food and beverage stores and general supermarkets increased by 0.4%.
At gas stations, receipts increased by 0.9%. Health care and personal care store sales increased 0.8%, and food service and restaurant sales increased 0.9%. In other stores sales increased by his 3%. Sales at non-store retailers increased by his 1.1%.
However, the outlook was less optimistic for building materials and supplies retailers, with sales falling 0.2%. Sales at electrical and home appliance retailers decreased by 0.8%. Stores selling clothing and clothing accessories also decreased by 0.8%.
Interestingly, sporting goods, hobby, musical instruments and bookstores, and furniture and home decor stores reported no change in sales last month.
4 notable picks
urban outfitters It’s worth the gamble. This leading lifestyle products and services company appears to be a promising investment due to its solid business strategy and sound fundamentals. Management has strengthened the direct-to-consumer business, increased productivity across existing channels, and optimized inventory levels. URBN’s strategic growth initiatives, FP movement, and store growth efforts are also impressive. See the complete list of today’s Zacks #1 Rank stocks here.
walmart Another potential candidate. The omnichannel retail giant is working hard to further strengthen its already strong presence in the market. The company has embarked on a series of strategic e-commerce initiatives, including acquisitions, partnerships, and significant improvements to its delivery and payment systems. At the same time, Walmart is working to improve its product assortment and ensure a diverse and attractive product assortment.
investors can trust loss store. The store expansion strategy, coupled with the company’s strong brand reputation and off-price retail model, positions Ross His Stores for success in the dynamic retail industry. The company has ambitious goals, aiming to acquire at least 2,900 Ross Dress for Less and 700 dd’s DISCOUNTS stores over the long term. By expanding its store network, the company will strengthen brand awareness, reach new customer segments and realize sales growth potential.
TJX companies It’s also worth the gamble. The Framingham, Massachusetts-based company’s flexible off-price business model, store expansion strategy, strong vendor relationships, and branded merchandise availability provide tremendous opportunity to drive sales and traffic. . TJX’s expansion efforts and focus on technology integration, such as advances in data analytics and e-commerce, underscore its ability to adapt to evolving market trends.
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The TJX Companies, Inc. (TJX): Free Stock Analysis Report
Walmart Inc. (WMT): Free Stock Analysis Report
Ross Stores, Inc. (ROST): Free Stock Analysis Report
Urban Outfitters, Inc. (URBN): Free Stock Analysis Report
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