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The macroeconomic trends are driving investors to bet on retail stocks lately, as the pent-up demand and rising consumer spending are driving revenues of retailers. The strong investor interest in the retail industry can be observed from the S&P Retail Select Industry Index’s 45.4% gain year-to-date. This compares with the broader S&P 500 index’s 12.4% return.
As the country is on track to vaccinate at least 70% of its population within July 4, retail stocks should continue to rally. Shares of popular retailers The Gap, Inc. (GPS), DICK’S Sporting Goods, Inc. (DKS), and Urban Outfitters, Inc. (URBN) have gained strong momentum lately and we don’t expect their momentum to end anytime soon.
