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Do You Have These Retail Stocks On Your List? 4 Names To Watch

Are These Retail Stocks Growing Despite The Coronavirus Pandemic?

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Retail Stocks To Buy [Or Sell] Right Now: Best Buy

Another retail giant, Best Buy (BBY Stock Report), specializes in consumer electronics. Following the trend of the two retail stocks above, Best Buy has gained back its lost market share in the months following the pandemic. To date, the share is up by 28.7% and shows no signs of stopping. Prior to the pandemic, the company had invested heavily in expanding its e-commerce platform. Analysts believe this is what spared the retail company from the market crash. Best Buy had turned its physical stores into the pick-up and delivery points for online orders, indicating a shift towards e-commerce.

Its stores continued to stay open and Best Buy saw a surge in online orders. As more people shifted towards working from home, work and online education boosted its sales. From its fiscal second quarter, sales trends improved tremendously especially in the last seven weeks of the second quarter. As a result, Best Buy’s total revenue grew 5.8% to $9.9 billion compared to a year earlier. It also returned a total of $1.5 billion to shareholders through dividends and share repurchases. With so many good things happening for investors of Best Buy, it does present a solid case to consider buying Best Buy shares.

Analysts are expecting Best Buy’s revenue and earnings to rise 4% and 14% respectively this year. This indicates that Best Buy’s prospects remain bright. More so when compared to its retail peers, you can see that Best Buy is weathering through this pandemic smoothly. This makes BBY stock a potential retail stock to buy.

Click To Continue To Top Retail Stocks to Watch In October #4>>>

By Brett David

Brett David is a digital marketing and finance professional for nearly 10 years now and a contributing author for StockMarket.com. His passion for digital marketing and the stock market began after graduating with a B.S.B.A in business administration and finance. After completing college, he went on to becoming an entrepreneur in the marketing and finance space, which led to becoming a contributor to outlets such as ThriveGlobal.com, MarijuanaStocks.com, MarketingAgency.com and SearchEngineWatch.com.

Brett loves the ability to deliver to his readers engaging and educational content that can be easily consumed by the reader. He enjoys writing about a wide variety of companies ranging from blue-chip stocks to the undervalued small and micro cap stocks. His favorite stock market sectors today to write about are: Tech, Cannabis, Mining, Biotech, and TMT.

Brett has worked with hundreds of publicly traded companies on increasing their digital footprint and corporate outreach since 2013.

You can find Brett most of time digging through corporate filings conducting fundamental analysis or at an industry conference looking for the next big trend or company to hit the street. His digital marketing experience gives a competitive edge over other contributing authors by allowing him to see and analyze trends faster than the next person.

Brett, a South Florida native, enjoys spending time with his wife and son outdoors, and is an avid basketball and MMA fan.

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