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Retail companies have been benefiting from robust consumer spending thanks to strong job growth. Former Macy’s CEO Terry Lundgren said that prevailing inflation rates should benefit the apparel industry after nearly a decade of stagnant growth.
Overall, retail stocks have been gaining momentum owing to strong consumer spending. This is evident in the SPDR S&P Retail ETF’s (XRT) 51.6% gains year-to-date, versus the broader SPDR S&P 500 Trust ETF’s (SPY) 18.7% returns. Therefore, we think retail stocks Signet Jewelers Limited (SIG), Boot Barn Holdings, Inc. (BOOT), and Tilly’s, Inc. (TLYS), which have gained more than 90% year-to-date, still have plenty of upsides to deliver..
