Retail stocks are publicly traded companies whose business is focused on selling goods to consumers through brick-and-mortar stores or online retailers. The retail industry is a broad sector that covers everything from grocery stores and department stores to apparel shops and home goods stores. Retail stocks have historically been a reliable investment, as consumer spending tends to be relatively stable even during economic downturns.
However, the Retail industry has undergone a major transformation in recent years, as the rise of e-commerce has led to changes in consumer behavior. This has resulted in some challenges for traditional retailers, but it has also created opportunities for companies that are able to adapt to the new landscape. As a result, Retail stocks can still offer investors a good potential for growth. Considering this, here are three top retail stocks to watch in the stock market today.
Retail Stocks To Watch Right Now
- Costco Wholesale Corporation (NASDAQ: COST)
- Walmart Inc. (NYSE: WMT)
- Nike Inc. (NYSE: NKE)
1. Costco Wholesale (COST Stock)
Kicking off our list today is Costco Wholesale Corporation (COST). If you’re unaware, Costco Wholesale Corporation is an American membership-only warehouse club. The company offers a wide selection of merchandise, from food and electronics to clothing and home goods. For a sense of scale, Costco is one of the largest retailers in the United States, with over 570 locations across the country.
COST Recent Stock News
This month, Costco reported its October sales results. Diving in, the company reported net sales of $17.73 billion for the retail month of October. This represents a 7.7% increase from $16.47 billion, during the same period, last year. What’s more, for the nine weeks that ended October 30, 2022, Costco has announced net sales of $39.19 billion, which represents a 9% increase from $35.97 billion in the previous year.
COST Stock Chart
Over the last month of trading, shares of Costco stock have recovered 8.71%. Meanwhile, on Friday morning, Costco stock is trading flat on the day, trading at $511.76 per share.
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2. Walmart (WMT Stock)
Next, let’s turn our attention to Walmart Inc. (WMT). In brief, Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. For a sense of scale, Walmart operated over 10,500 stores under 46 banners at the end of fiscal 2022.
WMT Recent Stock News
Earlier this month, Walmart announced that it will host its third-quarter 2023 earnings results, Tuesday, November 15th, before the stock market opens. To quickly recap, for the 2nd quarter of 2023, WMT reported an EPS of $1.77 per share and revenue of $152.9 billion. In the same announcement, the company said it estimates third-quarter 2023 earnings in the range of $1.29 to $1.32 per share, along with revenue estimates of approximately $147.55 billion.
WMT Stock Chart
In the last month of trading action, Walmart stock has bounced 6.24%. While, on Friday morning, shares of WMT stock are trading lower off the open by 0.91% at $141.03 a share.
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3. Nike (NKE Stock)
Last but not least, Nike, Inc (NKE) is an American multinational corporation. The company is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services.
NKE Recent Stock News
At the end of September, Nike announced its first-quarter 2023 financial results. In the report, Nike reported Q1 2023 earnings per share of $0.93, along with revenue of $12.7 billion. For context, Wall Street’s consensus earnings estimate was $0.91 per share, and revenue estimates of $12.3 billion for the 1st quarter of 2023.
Moreover, during the company’s investor conference call, Nike said they now expect fiscal 2023 revenue of approximately $47.18 billion to $49.75 billion. This new outlook is lower than the company’s previously announced outlook for full-year 2023, which was revenue of approximately $51.38 billion.
Matthew Friend, Executive Vice President, and CFO at Nike commented, “NIKE’s first quarter results set the foundation for another year of strong growth. “Our focus continues to be the consumer, as we take action to navigate near-term dynamics while expanding long-term structural benefits through our Consumer Direct Acceleration strategy.“
NKE Stock Chart
In the last month of trading, shares of Nike stock have begun to rebound by more than 18%. Meanwhile, during Friday morning’s trading session, NKE stock is up over 4% off the open, trading at $103.90 a share.
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