retail stocks to buy now

Are These The Best Retail Stocks To Buy Right Now?

Retail stocks have not been performing very well in 2020. Shopping in person is still very restricted at the moment. The ongoing COVID-19 pandemic has caused retail locations in many places to close temporarily or permanently. This means that top retail stocks have been down much more than they ever have been. Some sectors have been able to fully recover, but the retail one has been tough. Companies like Macy’s Inc. (M Stock Report) and Nordstrom Inc. (JWN Stock Report) have been among those struggling.

But now in October many of the best retail stocks to buy have been able to rebound. Many essential stores that stayed open during the pandemic benefitted from staying open. When news related to a coronavirus vaccine is released, retail stocks will rise. A ton of retail locations has opened back up as we have progressed through the year. Retail gainers are showing up more and more in the stock market in recent times. So let’s look at three retail stocks and how they are performing in October of this year.

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Top Retail Stocks To Watch In Q4 2020: Target Corporation

First up on this list of retail stocks to watch is Target Corporation (TGT Stock Report). Target is actively the 9th largest retailer in the United States. It is a chain of retail stores that sells things like clothing, electronics, groceries, supplies, household items, and much more. The company has more than 1844 stores all around the United States. Target is listed at number 37 on the Fortune 500 as well. So let’s look at some recent news that has been occurring with Target in 2020.

best retail stocks to buy now (TGT stock)

Before the stock market crash caused by the coronavirus, TGT stock was at $118 a share on average. TGT stock price saw a decline as low as $92 a share in March. But since then, TGT stock has actually made a full recovery and gone much higher than it was originally at. This is due to Target stores staying open during the pandemic, helping people get supplies for their homes. TGT stock price went from $123 a share in January, to now being at $164 a share as of October 16th.

This exponential growth for Target has allowed it to stay afloat despite the dark economics around other retail stocks. Target plans on offering great deals in this upcoming Holiday season, offering more than the previous year, and price matching many of its competitors. This could allow Target to move ahead of the competition this holiday season, but only time will tell. We will see if Target’s holiday deals are able to compete with its retail opponents.

Top Retail Stocks To Watch In Q4 2020: Walmart Inc.

Next up on this list of retail stocks to watch is Walmart Inc. (WMT Stock Report). Walmart stayed open when many other stores remained closed at the beginning and peaks of the pandemic. This has resulted in the financials for the company greatly increased in price. People began stockpiling goods when the pandemic started, many pouring into Walmart locations to collect supplies. This made Walmart one primary source of supplies for many families across the United States. So how is Walmart doing now that we are in October of the year?

best retail stocks (WMT stock)

Walmart has announced that its e-commerce sales went up by around 74%. In addition to this, its in store sales went up 10% throughout 2020. This has resulted in WMT stock reaching new record highs in its history. . WMT stock was at $116 a share when 2020 was starting.

Now as of October 16th, WMT stock price is at $144 a share on average. Revenue, net income, sales, and more all increased as a result of the coronavirus pandemic bringing in many and new customers. WMT stock price being at record highs is the proof in the pudding. For this reason, WMT stock has made it on to this list of retail stocks to watch as we progress through October of 2020.

[Read More] Top Stay-At-Home Stocks To Watch With Or Without A Vaccine

Top Retail Stocks To Watch In Q4 2020: Costco Wholesale Corporation

Finally, let’s talk about the last retail stock to watch on this list, Costco Wholesale Corporation (COST Stock Report). Costco Wholesale operates membership warehouses that sell a variety of products. This includes groceries and packaged foods, alcoholic and non-alcoholic beverages, appliances, cleaning supplies, and much more. As of October 7th, the company operates 796 warehouses in all of its operating areas. Let’s look at the recent news that has come from this retail stock to watch.

best retail stocks to buy (COST stock)

In Costco’s second-quarter results its net sales increased 12.5 percent to $52.28 billion. Net income was up as well, at $1.389 billion for the second quarter. Costco was also able to benefit from these types of retail company’s being able to stay open.

Costco remained a source for supplies just like Walmart and Target when things turned bad in the United States. These retail companies will be largely affected by holiday sales and upcoming quarter reports. This is why it is important to keep up with news and track the company’s financial reporting dates if you are looking to invest in a company. That is why Costco has made it on to this list of retail stocks to watch.

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