Do You Have These Top Retail Stocks In Your October 2021 Watchlist?

From one issue to another, there is no shortage of problems weighing in on the broader stock market now. Even so, some would argue that a case is building for the top retail stocks in the market. For starters, the U.S. House of Representatives approved the much-needed bill to raise the U.S. debt ceiling until early December. This would mark the final obstacle to avoiding a potential national default as the bill is now headed to President Joe Biden’s desk. Sure, this could serve to maintain the current economic recovery in the U.S., but what about inflation might you ask?

Well, for one thing, retailers are currently operating in a strong consumer market. According to Bank of America (NYSE: BAC) CEO Brian Moynihan, consumers are reportedly spending more now compared to pre-pandemic levels. As such, even with rising material prices all-round, companies would be able to pass on such costs to consumers. After considering all of this, it would make sense that investors are eyeing the best retail stocks in the stock market today.

For instance, analysts over at Goldman Sachs (NYSE: GS) appear to be bullish on Nike (NYSE: NKE) now. Namely, analyst Kate McShane hit NKE stock with a Buy rating and a $172 price target. This would suggest a possible upside of 12% from its price of $153.35 as of Tuesday’s closing bell. Notably, McShane cited a “healthy industry backdrop” and room for Nike to expand its direct-to-consumer offerings as key growth factors moving forward. At the same time, Amazon (NASDAQ: AMZN) launched its Prime subscription services in Poland as well, growing its presence there. With all that said, here are three retail stocks to consider in the current market.

Best Retail Stocks To Watch Right Now


First up, we have Walmart. By and large, most would be familiar with the largest retailer in the world. Through its extensive network of hypermarkets, discount department stores, and grocery stores, the company serves over 200 million consumers daily. For a sense of scale, Walmart has 10,500 locations across 24 countries. Given Walmart’s global presence, WMT stock could be a go-to for investors looking to jump on retail stocks now.

For one thing, the company appears to be hard at work preparing for the upcoming holiday season. As of this week, Walmart is now working with video streaming giant Netflix (NASDAQ: NFLX). Through this partnership, Walmart shoppers now have access to Netflix Hub via the retailer’s e-commerce services. On Netflix Hub, the duo are offering merchandise related to popular Netflix shows. This includes but is not limited to collectibles featuring top hits such as Squid Game, Stranger Things, and The Witcher. The likes of which could make for good holiday gifts, appealing to pop culture trends among consumers.

Not to mention, Walmart’s membership-only warehouse service, Sam’s Club, is also upscaling its offerings. In the literal sense, Sam’s Club announced plans to provide larger overall consumables and holiday wares. This ranges from larger portions of popular side dishes to grander Christmas trees and more toy brands. Furthermore, Sam’s Club members now have access to direct-to-home wine delivery services in 16 U.S. states. Because of all this, could WMT stock be a top buy for you?

retail stocks (WMT stock chart)
Source: TD Ameritrade TOS

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Signet Jewelers 

Following that, we will be taking a look at Signet Jewelers. In brief, Signet is one of, if not the biggest name in the global diamond jewelry scene today. It operates via 2,800 stores located across the U.S., U.K., and Canada. Among its key brands are Kay Jewelers, Zales, Jared, H.Samuel, and Ernest Jones, to name a few. Additionally, the company also offers a jewelry subscription service to consumers in the form of Rocksbox. With the usual rise in demand for Signet’s offerings at this time of year, SIG stock could be worth keeping an eye on now.

To highlight, the company’s shares are already looking at gains of over 190% year-to-date. Despite its current momentum, Signet continues to make bold plays. As of yesterday, the company is planning to acquire Diamonds Direct USA, an off-mall destination jeweler. Through the $490 million deal, Signet would be gaining access to Diamonds Direct’s strong presence among younger shoppers. Ideally, this would serve to significantly expand its market reach.

On that note, Signet also raised its fiscal 2022 and third-quarter revenue outlook yesterday. The company cites pent-up demand among couples who postponed engagement and wedding plans as a key factor for this. CFO Joan Hilson said, “Customers are showing positive response to our new product launches, and the reduction in government stimulus and customer shift to spending on entertainment and travel are having less impact than we previously anticipated.” All things considered, will you be adding SIG stock to your watchlist?

top retail stocks (SIG stock)
Source: TD Ameritrade TOS

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Best Buy Company 

Another name to consider among retail players now would be Best Buy. In essence, Best Buy is a consumer electronics retailer. The Minnesota-based company’s operational network currently consists of over 1,000 stores located across the U.S. and Canada. With the rising prevalence of tech in most aspects of life today, Best Buy’s wares remain as relevant as ever. This would especially be the case during the holiday season.

While this could be a reason to watch BBY stock now, Best Buy is not resting on its laurels just yet. Yesterday, the company announced plans to acquire Current Health, a health care tech firm. In doing so, Best Buy will be adding Current Health’s comprehensive care-at-home solutions to its portfolio. The likes of which are mostly targeted at remote patient monitoring and telehealth.

Overall, this would be another major advancement into the health care space for Best Buy. If anything, it is in line with CEO Corie Barry’s plans to leverage the rising popularity of care-at-home tech such as fitness trackers. According to the President of Best Buy Health, Deborah Di Sanzo, the addition of Current Health’s management platform provides Best Buy with a “holistic care ecosystem”. All in all, would this make BBY stock worth watching for you?

BBY stock chart
Source: TD Ameritrade TOS

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