3 Dynamic Retail Stocks To Buy Before They Reach New Highs By StockNews
© Reuters. 3 dynamic retail stocks to buy before reaching new highs
The resurgence of COVID-19 cases and continuing inflationary pressures continue to worry investors in the face of slowing economic growth. But, surprisingly, retail sales increased in August. And higher than usual holiday sales forecasts should boost retail inventory performance. Thus, it might be wise to invest in Industria de Diseño Textil (IDEXY) quality retail stocks, Shoe carnival (NASDAQ 🙂 and Tilly’s (NYSE 🙂 which have grown and are well placed to maintain the same level. Investor concerns about the pace of the economic recovery due to the resurgence of COVID-19 cases have kept the market volatile. In addition, consumer confidence fell to its lowest level in seven months in September. Additionally, the United States faces severe supply chain disruptions and shortages due to shipping delays, further exacerbating the already high inflationary environment. Federal Reserve Chairman Jerome Powell has expressed concerns about inflation and expects current pressures to continue until 2022.
However, retail sales rose 0.7% in August compared to the expectation of a 0.8% decline. In addition, the next holiday season should generate better sales than usual. So turning to retail stocks with strong momentum could be rewarding.
Industria retail values of Diseño Textil, SA (IDEXY), Shoe Carnival (NYSE :), Inc. (SCVL) and Tilly’s, Inc. (TLYS) have enjoyed solid momentum in recent months and are well positioned to maintain rally in the coming months dodging market volatility.
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