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The Zacks Analyst Blog Highlights GIII Apparel, American Woodmark, lululemon athletica, Skechers and Carrols Restaurant
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For Immediate Release
Chicago, IL – November 9, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: GIII Apparel Group (GIII - Free Report) , American Woodmark (AMWD - Free Report) , lululemon athletica (LULU - Free Report) , Skechers (SKX - Free Report) and Carrols Restaurant Group .
Here are highlights from Wednesday’s Analyst Blog:
5 Stocks to Gain as Americans Go on a Spending Spree
A relentless increase in consumer outlays has fueled America’s economic growth in recent times and squashed concerns about an impending recession.
Despite geopolitical issues, rising interest rates, and higher gasoline prices consumers felt self-assured to open up their wallets, consequently benefiting consumer discretionary stocks such as GIII Apparel Group, American Woodmark, lululemon athletica, Skechers and Carrols Restaurant Group.
Holiday Spending to Rise
American consumers are expected to splurge on discretionary items through the busy holiday shopping season. The National Retail Federation (NRF) stated that consumers are estimated to shell out between $957.3 billion to $966.6 billion during November and December. Thus, spending will increase between 3% and 4% over the same period last year.
The growth may be slightly lower compared to recent years, but it’s still in line with the growth rate from 2010 to 2019, when the average annual holiday outlays jumped 3.6%. Nonetheless, post-COVID, online sales have picked up, and a greater number of shoppers started to make purchases before November.
In an October survey, NRF found out that consumers plan to spend around $875, on average, on holiday items including decorations, gifts, and food, to name a few. Such spending is surely expected to boost jobs at retail outlets as well.
Consumer Spending Bouy GDP Growth
Consumers, in reality, have already begun to spend significantly, helping the broader economy to accelerate in the third quarter. Economic growth in the United States galloped at an annualized pace of 4.9% in the quarter ending in September, and the growth rate was double the growth in the first six months of 2023.
Undoubtedly, the economic growth was propelled by a big burst of consumer spending as households spent on food, beverages, recreational items, motor vehicles, and travel. According to the Commerce Department, consumer outlays increased 0.7% in September, following a rise of 0.4% in August.
5 Big Winners
Courtesy of an uptick in household outlays, consumer discretionary companies are poised to benefit as spending plays an important role in shaping their revenues. We have, thus, selected five consumer discretionary stocks that flaunt a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GIII Apparel Group is a manufacturer, designer and distributor of apparel and accessories. GIII, currently, has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has moved up 6.5% over the past 60 days. GIII’s expected earnings growth rate for the current year is 14.7%.
American Woodmark is a manufacturer of kitchen and bath cabinets. AMWD, currently, has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has moved up 13.3% over the past 60 days. AMWD’s expected earnings growth rate for the current year is 4.9%.
lululemon athletica is a yoga-inspired athletic apparel company. LULU, currently, has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved up 0.2% over the past 60 days. LULU’s expected earnings growth rate for the current year is 20.5%.
Skechers designs, develops, markets and distributes footwear for men, women and children. SKX, currently, has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved up 1.5% over the past 60 days. SKX’s expected earnings growth rate for the current year is 44.1%.
Carrols Restaurant Group is the largest BURGER KING franchisee in the United States. The company, currently, has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved up more than 100% over the past 90 days. TAST’s expected earnings growth rate for the current year is 152.9%.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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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The Zacks Analyst Blog Highlights GIII Apparel, American Woodmark, lululemon athletica, Skechers and Carrols Restaurant
For Immediate Release
Chicago, IL – November 9, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: GIII Apparel Group (GIII - Free Report) , American Woodmark (AMWD - Free Report) , lululemon athletica (LULU - Free Report) , Skechers (SKX - Free Report) and Carrols Restaurant Group .
Here are highlights from Wednesday’s Analyst Blog:
5 Stocks to Gain as Americans Go on a Spending Spree
A relentless increase in consumer outlays has fueled America’s economic growth in recent times and squashed concerns about an impending recession.
Despite geopolitical issues, rising interest rates, and higher gasoline prices consumers felt self-assured to open up their wallets, consequently benefiting consumer discretionary stocks such as GIII Apparel Group, American Woodmark, lululemon athletica, Skechers and Carrols Restaurant Group.
Holiday Spending to Rise
American consumers are expected to splurge on discretionary items through the busy holiday shopping season. The National Retail Federation (NRF) stated that consumers are estimated to shell out between $957.3 billion to $966.6 billion during November and December. Thus, spending will increase between 3% and 4% over the same period last year.
The growth may be slightly lower compared to recent years, but it’s still in line with the growth rate from 2010 to 2019, when the average annual holiday outlays jumped 3.6%. Nonetheless, post-COVID, online sales have picked up, and a greater number of shoppers started to make purchases before November.
In an October survey, NRF found out that consumers plan to spend around $875, on average, on holiday items including decorations, gifts, and food, to name a few. Such spending is surely expected to boost jobs at retail outlets as well.
Consumer Spending Bouy GDP Growth
Consumers, in reality, have already begun to spend significantly, helping the broader economy to accelerate in the third quarter. Economic growth in the United States galloped at an annualized pace of 4.9% in the quarter ending in September, and the growth rate was double the growth in the first six months of 2023.
Undoubtedly, the economic growth was propelled by a big burst of consumer spending as households spent on food, beverages, recreational items, motor vehicles, and travel. According to the Commerce Department, consumer outlays increased 0.7% in September, following a rise of 0.4% in August.
5 Big Winners
Courtesy of an uptick in household outlays, consumer discretionary companies are poised to benefit as spending plays an important role in shaping their revenues. We have, thus, selected five consumer discretionary stocks that flaunt a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GIII Apparel Group is a manufacturer, designer and distributor of apparel and accessories. GIII, currently, has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has moved up 6.5% over the past 60 days. GIII’s expected earnings growth rate for the current year is 14.7%.
American Woodmark is a manufacturer of kitchen and bath cabinets. AMWD, currently, has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has moved up 13.3% over the past 60 days. AMWD’s expected earnings growth rate for the current year is 4.9%.
lululemon athletica is a yoga-inspired athletic apparel company. LULU, currently, has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved up 0.2% over the past 60 days. LULU’s expected earnings growth rate for the current year is 20.5%.
Skechers designs, develops, markets and distributes footwear for men, women and children. SKX, currently, has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved up 1.5% over the past 60 days. SKX’s expected earnings growth rate for the current year is 44.1%.
Carrols Restaurant Group is the largest BURGER KING franchisee in the United States. The company, currently, has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved up more than 100% over the past 90 days. TAST’s expected earnings growth rate for the current year is 152.9%.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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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.