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2 Retail Stocks To Watch In The Stock Market Now

Do you have these retail stocks on your August 2023 watchlist?

retail stocks

The retail industry is all about selling goods directly to people like you and me. It’s a big world that includes everything from small local shops to huge global chains. Think of places where you buy clothes, groceries, or electronics – that’s retail. Lately, this industry has been changing a lot, mainly because more people are shopping online and because our buying habits are evolving.

Thinking about investing in retail stocks? That’s like betting on people’s shopping habits. These stocks are parts of companies that sell directly to customers, whether in physical stores or online. When the economy is doing well and people feel secure in their jobs, they tend to spend more money. That’s usually good news for retail companies and the people who invest in their stocks.

But investing in retail isn’t a surefire win. It’s important to do your homework and be strategic, as this industry can be sensitive to changes in the economy and trends in consumer behavior. In other words, when times are tough, people might cut back on shopping, and that can hurt retail companies. So, investing in this sector can offer significant rewards, but it comes with its own set of risks, and it’s essential to stay informed and be prepared for ups and downs. Keeping this in mind, here are two retail stocks to watch in the stock market today.

Retail Stocks To Buy [Or Avoid] Right Now

Target Corporation (TGT Stock)

First up, Target Corporation (TGT) is one of the largest retail corporations in the United States. The company operates over 1,800 stores across the country. Additionally, Target is known for offering a wide variety of products, including clothing, electronics, groceries, and home goods.

Today, Tuesday, Target announced when it will webcast its second quarter 2023 earnings results. In detail, the company is set to report its Q2 2023 earnings on Wednesday, August 16, 2023. To briefly recap, back in May, Target reported a beat for its Q1 2023 earnings notching in earnings of $2.05 per share, on revenue of $25.32 billion.

Though, year-to-date shares of TGT stock have fallen by 16.31% so far. Meanwhile, during Tuesday morning’s trading session, Target stock is trading lower off the open by 1.93% at $126.92 a share.

Source: TD Ameritrade TOS

[Read More] 3 REIT Stocks For Your August 2023 Watchlist

The Home Depot (HD Stock)

Second, The Home Depot Inc. (HD) is the world’s largest home improvement retailer. Home Depot has more than 2,200 stores across the United States, Canada, and Mexico. The company offers a broad selection of building materials, home improvement products, lawn and garden products, and decor items.

Just this morning, Tuesday, Home Depot announced better-than-expected second-quarter 2023 earnings results. Diving in, the company reported earnings of $4.65 per share with revenue of $42.92 billion for Q2 2023. This was in comparison to analysts’ consensus estimates which were earnings of $4.46 per share and revenue estimates of $42.25 billion.

Moreover, in 2023 so far, shares of Home Depot stock have advanced by 5.11%. While, during Tuesday’s mid-morning trading session, HD stock is trading up on the day so far by 0.61% at $331.96 a share.

Source: TD Ameritrade TOS

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By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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