4 Top Retail Stocks Worth Watching Right Now
For investors pondering the question “Is the stock market open today?”, the answer is no. In conjunction with Martin Luther King Jr. Day, markets are closed. However, retail stocks continue to turn heads. For the most part, this seems to be the case as retailers are more than eager to bolster their offerings. Between rising inflation and a somewhat lackluster holiday shopping season, this is understandable. Not to mention, investors are likely eager to see how the retail firms are doing via their upcoming earnings calls. With all this attention on the sector now, it may be good to keep an eye on the retail scene.
At the same time, retailers continue to aggressively adapt their operations to meet shifting consumer trends. Take Walmart (NYSE: WMT) for example. Over the weekend, news broke of the retail giant’s plans to enter the metaverse. According to a CNBC report, the firm is filing for patents to make its own cryptocurrency and non-fungible tokens (NFTs). While it remains to be seen whether WMT stock will become a metaverse stock, this is exciting news, nonetheless. Similarly, this would echo Gap’s (NYSE: GPS) recent entry into the NFT market last week. With all of this in mind, here are four top retail stocks to know in the stock market today.
Top Retail Stocks For Your January 2022 Watchlist
- Winnebago Industries Inc. (NYSE: WGO)
- Home Depot Inc. (NYSE: HD)
- Target Corporation (NYSE: TGT)
- Victoria’s Secret & Company (NYSE: VSCO)
Winnebago Industries
Winnebago is a retailer for motorhomes. In fact, it is a leading manufacturer of outdoor lifestyle products under a variety of brands like Grand Design, Newmar, and Barletta. Its products are for leisure travel and outdoor recreation activities. The company has multiple facilities across the country and builds quality motorhomes, travel trailers, and commercial community outreach vehicles. WGO stock has enjoyed gains of over 18% in the last 6 months. Last week, Winnebago released an interesting piece of news.
On January 13, 2022, the company announced that it will be revealing an all-electric concept motorhome developed by its Advanced Technology Group (ATG) at the Florida RV Super Show on Tuesday, January 18, 2022. Winnebago will continue its innovation legacy with this all-electric concept motorhome, a milestone in the two-year plus development of the vehicle. ATG was established in 2019 to identify and develop emerging technologies for application within future products and services in the company’s various business units. With that being said, is WGO stock worth watching right now?
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Home Depot
Home Depot is one of the largest home improvement retailers in the U.S. With over 2,000 retail stores in the U.S., Canada, and Mexico, it employs over 500,000 associates. Impressively, its stores average at around 105,000 square feet of indoor retail space. It also has an impressive e-commerce business that offers more than 1 million products for both its DIY and professional contractors. It is also one of the industry’s largest installation businesses. Over the last year, HD stock has seen gains of over 36%.
On January 11, 2022, the company announced that it will be enhancing its commercial credit offerings for Pro Customers and their businesses. In brief, it introduced the Pro Xtra Credit Card, a new iteration of its Commercial Revolving Charge. It also updated its Commercial Account Card. Both credit options are powered by Citi Retail Services, one of North America’s largest and most experienced retail credit solution providers. Both cards have features like issuing cards to entrusted employees to make purchases on a company’s behalf. It also allows for an extended return period of up to a full year, four times longer than a non-commercial credit purchase. Given this piece of news, is HD stock worth investing in?
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Target
Target is a big box department store chain with over 1,900 stores across the country. The company is a component of the S&P 500 Index and is also one of the largest retailers in the U.S. It also owns delivery services company Shipt and media company Roundel. Shipt in particular facilitates same-day delivery from various retailers to its members. The company also has 46 distribution centers with 20 office locations globally. It also has 49 unique brands to its name. TGT stock is up by over 17% in the past year.
Last week, it declared a dividend of $0.90 per share. The dividend is payable on March 10, 2022 to shareholders of record at the close of February 16, 2022. This will also be Target’s 218th consecutive dividend payout since October 1967. In November, the company also announced its third-quarter earnings. Diving in, comparable sales grew by 12.7%. Digital comparable sales grew by 29%. Impressively, its same-day services grew nearly 60% this year. Also, It reported a GAAP earnings per share of $3.04, a 51.6% increase compared to a year ago. All things considered, is TGT stock a watch?
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Victoria’s Secret & Company
Last but not least, we have the recently spun-off Victoria’s Secret & Company. By and large, the company identifies as a lingerie, clothing, and beauty retailer. Victoria’s Secret often employs high visibility marketing and branding to make its offerings stand out from the competition. For a sense of scale, the company operates via a global network of almost 1,400 retail stores. From its signature undergarments to lingerie, casual sleepwear, athleisure, and swimwear, Victoria’s Secret has plenty to offer consumers. As it stands, VSCO stock is currently up by over 13% in the past month.
All in all, the current momentum in the company’s shares is thanks to its recent holiday sales. To explain, the company mentioned this alongside a notable share buyback program just last month. According to Victoria’s Secret, the firm is working with Goldman Sachs (NYSE: GS) in a $250 million share repurchase program. By the company’s estimates, this acceleration to its share buyback program is set for completion by the end of the current quarter. Moreover, CEO Martin Waters highlighted that the company saw a “large rush of business” leading up to Christmas. Overall, with Victoria’s Secret seemingly firing on all cylinders now, will you be adding VSCO stock to your portfolio?
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