Shares of companies that sell goods or services directly to consumers, typically through brick-and-mortar stores or online platforms, are referred to as retail stocks. This industry is critical to the economy because it accounts for a significant portion of consumer spending and can provide investors with a way to potentially profit from economic growth. Clothing, electronics, home goods, and food and beverage are just a few examples of retail stocks.
Investing in retail stocks can allow investors to potentially benefit from rising consumer spending and shifting consumer behavior trends. However, it is critical to consider various factors that may have an impact on the stock’s performance, such as economic trends, changes in consumer preferences, and competitive pressures. Companies that can adapt and stay ahead of the curve as consumer preferences and habits change can potentially benefit from growth and increased profitability.
Overall, investing in retail stocks can be a way for investors to potentially generate strong returns over the long term. To manage risk, do your research, and carefully evaluate the risks and opportunities as with any investment. By doing so, investors can make informed decisions and potentially achieve their investment goals. Keeping this in mind, let’s dive into three retail stocks to check out in the stock market in March 2023.
Retail Stocks To Watch Right Now
- Dollar Tree Inc. (NASDAQ: DLTR)
- Lowe’s Companies Inc. (NYSE: LOW)
- The Home Depot Inc. (NYSE: HD)
Dollar Tree (DLTR Stock)
Leading off, Dollar Tree Inc. (DLTR) is a discount variety store chain that offers a range of products, including household items, party supplies, and snacks, at a low cost.
On Wednesday morning, DLTR reported a beat for its 4th quarter 2022 financial results. In the report, Dollar Tree announced Q4 2022 earnings of $2.04 per share and revenue of $7.7 billion. Additionally, revenue increased by 9% versus the same period, the prior year. Also, the company said it now expects 1st quarter 2023 earnings in the range of $1.46 to $1.56 per share, with revenue estimates of $7.2 to $7.4 billion.
During Wednesday’s premarket trading session, shares of LOW stock are trading lower so far by 3.01% at $140.90 per share.
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Lowe’s Companies (LOW Stock)
Next, Lowe’s Companies Inc. (LOW) is a home improvement retailer that offers a wide range of products and services for home renovation and improvement projects. With a strong brand reputation and a commitment to customer service and convenience, LOW has become a leading name in the home improvement industry.
Also on Wednesday morning, Lowe’s Companies announced their Q4 2022 financial and operating results. In detail, the company posted Q4 2022 earnings of $2.28 per share and revenue of $22.4 billion. This is better than analysts’ consensus estimates for the quarter which were earnings of $2.21 per share and revenue of $22.8 billion. Furthermore, LOW also notched in a 5.2% increase in revenue on a year-over-year basis.
Meanwhile, during Wednesday morning’s premarket trading session, shares of LOW stock are up modestly by 0.56% at $206.90 a share.
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Home Depot (HD Stock)
Next, Home Depot Inc. (HD) is another leading home improvement retailer that provides a variety of products and services for home renovation and improvement projects. Home Depot’s product line includes areas such as building materials, home improvement tools, lawn and garden supplies, appliances, and more.
In February, Home Depot (HD) reported better-than-expected financial results for the 4th quarter of 2022. Diving in, Home Depot announced fourth-quarter 2022 earnings per share of $3.30 and revenue of $35.8 billion. This is in comparison to Wall Street’s consensus estimates which were earnings of $3.26 per share, along with revenue of $36.0 billion. What’s more, HD also said that it now estimates the fiscal year 2024 earnings of approximately $15.86 per share, with revenue estimates of approximately $157.40 billion.
During Wednesday morning’s premarket trading action, shares of HD stock are trading slightly lower by 0.35% at $295.50 per share.
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