retail stocks to buy

Are These 2 Top Retail Stocks On Your Post-Covid19 Watchlist?

Retail stocks have been volatile lately due to the coronavirus pandemic. Most retail locations were forced to close down including all shopping malls. This was put in place in order to avoid more people becoming infected with the Covid-19 virus. But now in June, retail stores are starting to reopen in many places, and in large numbers. With these businesses reopening, it has caused retail stocks to start rebounding. The initial start of many businesses reopening was done by a curbside pickup. Essentially, you could purchase an item online and drive to the store on the same day and they bring it to your car. 

While that business model worked for some retail stores, other retail locations were still left with their doors closed. As things begin to stabilize for more retail locations, social distancing guidelines have been set into place. This is going to allow retail companies to provide a safe shopping experience. Once this happens it is possible for a strong economic comeback creating momentum in the market for other retail stocks.

Some retail stocks, while they had a drop in revenue, they are still seeing an increase in stock price. This is due to hope and speculation for the future of these retail companies. Some are also seeing financials return to what they once were. One example is Apple (AAPL stock report) who saw its stock price drop down and then begin to bounce back. Apple, being a leading retail stock sits higher now than before the pandemic began. Let’s take a look at two retail stocks that could be set to rebound big this year.

Read More

#1 Retail Stock To Watch In 2020: Tiffany & Co.

Tiffany & Co. (TIF Stock Report) is a well-known jewelry company based in New York. Beyond being a household name, they are a retail stock to watch this year. This retail company is most known for its products such as jewelry, crystal, watches, leather goods, and other accessories. Its retail stores are its greatest success as people like to try on jewelry and see it in person before purchasing. You may realize by now that this became an issue for this retail stock once Covid-19 came around.

retail stocks (tif stock)

At the start of this pandemic, TIF’s stock price dropped but quickly recovered to its previous share price. On June 2nd, TIF stock saw a large dip once again after it was announced that a deal with LVMH possibly fell through. On June 9th though, TIF stock began to rise once again due to the recent news. Tiffany announced its sale to LVMH  for $16 billion may actually still happen. But in addition, this retail stock announced a 43% decline in product sales and $65 million in losses.

So why has TIF’s stock price gone back up if its sales are so down? Well, the company is hopeful for the future. Sales are already beginning to increase in China at its retail locations. Although global sales fell 40% in May, revenue in China rose 90%.

The CEO of Tiffany, Alessandro Bogliolo released a statement saying:

“The first quarter was very challenging with sales and earnings significantly impacted by COVID-19. I am confident Tiffany’s best days remain in front of us because there is evidence that the strategic decisions we took to focus on our mainland China domestic business, global e-commerce, and new product innovation are paying off — even against the backdrop of a global pandemic.” 

TIF’s stock is currently at $124, compared to $127 last week, and is not currently showing signs of going down.

[Read More] Top Real Estate Stocks To Buy In June 2020

#2 Retail Stock To Watch In 2020: Macy’s Inc.

Another retail stock to watch is the corporate giant that is Macy’s Inc. (M Stock Report). We all know this retail company with it having stores in most shopping malls in the United States. Just like most other retail stocks, M stock price saw a steep decline in its share price once the coronavirus caused stay at home orders and stores started closing.

But now M stock is starting to rebound. If you take a look at the 5-day chart for this retail stock, you will see that it has been consistently going up. On June 9th, Macy’s who previously have been struggling announced that it has $4.5 billion in new financing. Macy’s also released its first-quarter earnings, which were better than most analysts predicted.

retail stocks to buy (M stock)

The CEO of Macy’s, Jeff Gennette said in a statement:

“We are pleased with the strong demand from new investors in our notes issuance, which allowed us to tighten pricing and increase the size of the offering. The high quality of our real estate portfolio positioned us well to execute this offering. Additionally, the continued commitment from our bank group allowed us to more than double the size of our existing revolving credit facility.”

The retail market is very volatile right now as things begin to open around the world. This is making these companies two retail stocks to watch this year.


Sign up for our FREE Newsletter and get:

  • Stock Alerts And Ideas
  • Learn to Trade Stocks & Options
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@stockmarket.com

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
You May Also Like

Do These 2 Food Stocks Have Investors Hungry For More?

Are Investors Gaining An Appetite For These Top Food Stocks? Food stocks…