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Zacks.com featured highlights include: Abercrombie & Fitch, AutoNation, MarineMax, L Brands and Macy's
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For Immediate Release
Chicago, IL – April 29, 2021 – Stocks in this week’s article are Abercrombie & Fitch Co. (ANF - Free Report) , AutoNation, Inc. (AN - Free Report) , MarineMax, Inc. (HZO - Free Report) , L Brands, Inc. and Macy's, Inc. (M - Free Report) .
Snap Up These 5 Retail Stocks as Consumer Confidence Soars
Americans are way more confident now, thanks to the two-pronged approach of massive stimulus package and mass inoculation drive. Markedly, U.S. consumer confidence — a key determinant of the economy’s health — leaped for the second successive month in April and reached the highest mark since the pandemic gripped the economy. Easing of restrictions and gradual pick-up in economic activities have ushered a sense of confidence with more people returning to their work place and the unemployment rate showing signs of improvement.
Undeniably, the government’s timely intervention to provide financial assistance did play a major role in lifting the consumer sentiment. Per the Conference Board, the Consumer Confidence Index jumped to 121.7 in April from March’s revised reading of 109.
This marks the highest level since February last year, when the index was at 132.6. Lynn Franco, senior director of economic indicators at The Conference Board said, “Consumers' assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2.”
Certainly, an upbeat sentiment is likely to translate into increased consumer spending, which accounts for more than two-thirds of U.S. economic activity. Any uptick in consumer spending is always a welcome news for retailers. Economists pointed out that as business organizations and industries start to operate at an optimum level, it could potentially ramp up hiring activity, and in turn prompt consumers to spend more freely.
Meanwhile, the passing of a coronavirus relief package worth $1.9 trillion that entitles eligible Americans to $1,400 stimulus checks has boosted spending activity across the board. Evidently, U.S. retail and food services sales in March rose 9.8% sequentially to $619.1 billion. Americans flocked to restaurants and bars, bought apparels, spent on gasoline, and purchased sports equipment, furniture and electronics and appliances. Sales at auto dealers were also strong.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks.com featured highlights include: Abercrombie & Fitch, AutoNation, MarineMax, L Brands and Macy's
For Immediate Release
Chicago, IL – April 29, 2021 – Stocks in this week’s article are Abercrombie & Fitch Co. (ANF - Free Report) , AutoNation, Inc. (AN - Free Report) , MarineMax, Inc. (HZO - Free Report) , L Brands, Inc. and Macy's, Inc. (M - Free Report) .
Snap Up These 5 Retail Stocks as Consumer Confidence Soars
Americans are way more confident now, thanks to the two-pronged approach of massive stimulus package and mass inoculation drive. Markedly, U.S. consumer confidence — a key determinant of the economy’s health — leaped for the second successive month in April and reached the highest mark since the pandemic gripped the economy. Easing of restrictions and gradual pick-up in economic activities have ushered a sense of confidence with more people returning to their work place and the unemployment rate showing signs of improvement.
Undeniably, the government’s timely intervention to provide financial assistance did play a major role in lifting the consumer sentiment. Per the Conference Board, the Consumer Confidence Index jumped to 121.7 in April from March’s revised reading of 109.
This marks the highest level since February last year, when the index was at 132.6. Lynn Franco, senior director of economic indicators at The Conference Board said, “Consumers' assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2.”
Certainly, an upbeat sentiment is likely to translate into increased consumer spending, which accounts for more than two-thirds of U.S. economic activity. Any uptick in consumer spending is always a welcome news for retailers. Economists pointed out that as business organizations and industries start to operate at an optimum level, it could potentially ramp up hiring activity, and in turn prompt consumers to spend more freely.
Meanwhile, the passing of a coronavirus relief package worth $1.9 trillion that entitles eligible Americans to $1,400 stimulus checks has boosted spending activity across the board. Evidently, U.S. retail and food services sales in March rose 9.8% sequentially to $619.1 billion. Americans flocked to restaurants and bars, bought apparels, spent on gasoline, and purchased sports equipment, furniture and electronics and appliances. Sales at auto dealers were also strong.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/1467259/snap-up-these-5-retail-stocks-as-consumer-confidence-soars
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.