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2 Great Retail Stocks to Buy at a Discount Ahead of Earnings
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On today’s episode of Full Court Finance at Zacks we dive into Chewy (CHWY - Free Report) and Lululemon (LULU - Free Report) ahead of their upcoming fourth quarter fiscal 2020 earnings releases on Tuesday, March 30 to help decide if either stock is worth buying at a solid discount.
The U.S. economy is projected to grow by roughly 6% in 2021 and Wall Street and people hope things return to something like normal later this year, as the coronavirus vaccine is rolled out. Along with broader positivity and a natural economic rebound, the injection of trillions of dollars into the U.S. economy and the Fed’s easy money policy has helped conjure up inflation fears that has led to a wave of bond selling.
Despite some of the recent worries and the tech selling that pushed the Nasdaq into a correction, the fundamentals remain strong. This is boosted by an improving earnings picture, high levels of consumer confidence, and more (also read: A Very Strong Q1 and 2021 Earnings Picture).
With this backdrop in mind, investors might want to consider buying strong stocks at a discount. The first stock we discuss is e-commerce-focused pet store Chewy that has grown within a crowded digital commerce world dominated by Amazon (AMZN - Free Report) , Target (TGT - Free Report) , Walmart (WMT - Free Report) , and others. The company has added millions of more active customers in the past year, while also introducing a telehealth segment. And the stock is trading at over a 30% discount to where it was in mid-February.
The second stock is athleisure standout turned sportswear powerhouse Lululemon. LULU has expanded its portfolio as it helps change the way millions of people dress. This has propelled the stock to crush Nike (NKE - Free Report) , the S&P 500, and its industry over the last five years. Yet it has cooled down over the last six months and at around $315 a share it trades at a 20% discount to its all-time highs.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
2 Great Retail Stocks to Buy at a Discount Ahead of Earnings
On today’s episode of Full Court Finance at Zacks we dive into Chewy (CHWY - Free Report) and Lululemon (LULU - Free Report) ahead of their upcoming fourth quarter fiscal 2020 earnings releases on Tuesday, March 30 to help decide if either stock is worth buying at a solid discount.
The U.S. economy is projected to grow by roughly 6% in 2021 and Wall Street and people hope things return to something like normal later this year, as the coronavirus vaccine is rolled out. Along with broader positivity and a natural economic rebound, the injection of trillions of dollars into the U.S. economy and the Fed’s easy money policy has helped conjure up inflation fears that has led to a wave of bond selling.
Despite some of the recent worries and the tech selling that pushed the Nasdaq into a correction, the fundamentals remain strong. This is boosted by an improving earnings picture, high levels of consumer confidence, and more (also read: A Very Strong Q1 and 2021 Earnings Picture).
With this backdrop in mind, investors might want to consider buying strong stocks at a discount. The first stock we discuss is e-commerce-focused pet store Chewy that has grown within a crowded digital commerce world dominated by Amazon (AMZN - Free Report) , Target (TGT - Free Report) , Walmart (WMT - Free Report) , and others. The company has added millions of more active customers in the past year, while also introducing a telehealth segment. And the stock is trading at over a 30% discount to where it was in mid-February.
The second stock is athleisure standout turned sportswear powerhouse Lululemon. LULU has expanded its portfolio as it helps change the way millions of people dress. This has propelled the stock to crush Nike (NKE - Free Report) , the S&P 500, and its industry over the last five years. Yet it has cooled down over the last six months and at around $315 a share it trades at a 20% discount to its all-time highs.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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