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Thus, it’s also not surprising that the laggards of last year are now outperforming this year. Some noteworthy examples include the energy sector as oil is now above the pre-coronavirus levels, travel and tourism stocks such as the airlines, hotels, and cruise operators, and retail stocks.
Within that group, retail stocks are particularly interesting. Among the retail sector, one of the strongest performers in 2021 has been Macy’s (M) with a 67% YTD gain. Despite this impressive gain, I believe the stock has more upside for the following four reasons: the economy’s reopening which is leading to increased foot traffic to stores and more spending on formal attire; the company’s booming e-commerce sales; strong consumer spending figures; and very attractive valuations.
