While the global economic scenario refuses to return to normalcy, investors are still struggling to select the right stocks for their portfolio. Global economic headwinds, such as the after-shocks of the Brexit decision, soft Euro zone growth, fluctuating commodity prices, plunging oil prices and fluctuating foreign currencies, are far from easing. These have a significant impact on the financial markets across the globe, with the U.S. being no exception.

With all the panic elsewhere, a recovering U.S. economy offers some relief. Here, stability in the job market, housing recovery, rising wages, improved consumer spending and steady consumer confidence led to renewed optimism. Evidently, the real gross domestic product (GDP) advance estimate for the second quarter of 2016 improved at an annual rate of 1.2% against a 0.8% rise witnessed in the preceding quarter, per the Bureau of Economic Analysis.

The stability in the U.S. labor market was palpable as the jobs data for July came in better than expected, with the unemployment rate remaining unchanged at 4.9%. This along with the 0.4% rise in consumer spending ushered confidence in economic growth, indicating that consumers are now willing to spend.

That said, we turn to the consumer discretionary sector, which manufactures products that buyers choose because they want to and not because they need to. Companies operating in this space include fast-food restaurants, providers of entertainment products and services, and makers of automobiles, textiles, apparels and luxury goods among others. These products and services will only be sought by consumers if they have sufficient disposable income.

Given the improvement in job market and consumers’ appetite to spend, the trend noted is that people are now willing to spend on discretionary items, albeit conservatively. Hence, there is room for upside in consumer discretionary stocks, which are poised to make the best of an improving economy.

At this juncture, we believe that a focus on U.S.-based consumer discretionary stocks with growth potential will reap the best returns for investors.

Why Growth Stocks?

In the current market scenario, growth stocks can be considered as potential bets as these are believed to offer better returns than the major benchmarks. These stocks are expected to have the potential to record strong earnings growth going forward. Growth stocks, which are also called “glamor stocks,” are generally well established and of a high quality.

Though these stocks are often regarded as more volatile than the other categories, they are also expected to fetch higher returns. Hence, investors with high tolerance to risk and preferring capital appreciation over dividend payouts may consider growth stocks to gain from the current scenario.

4 Growth Stocks to Buy   

Here, using our new style score system, we have zeroed in on four home run consumer discretionary stocks that could soar in the months ahead, based on their encouraging Zacks Rank and favorable Growth Style Score.

Our Growth Style Score condenses all the essential metrics from a company’s financial statements to get a true sense of the quality and sustainability of its growth. Our research shows that stocks with a Growth Style Score of ‘A’ or ‘B’ when combined with a Zacks Rank #1 (Strong Buy) or #2 (Buy) offer the best investment opportunities in the growth investing space.

All the stocks selected here flaunt a Zacks Rank #1 or #2 and have a Growth Style Score of ‘A.’

Deckers Outdoor Corp. (DECK Quick QuoteDECK - Free Report) , a leading designer, producer, and brand manager of innovative, niche footwear and accessories developed for outdoor sports, and other lifestyle-related activities, is a solid bet. The stock boasts a Zacks Rank #1 and a Growth Score of “A”. The Goleta, CA-based company delivered an average positive earnings surprise of 25.2% over the trailing four quarters, and has a long-term earnings growth rate of 10.84%. The Zacks Consensus Estimate too has been trending up over the past 30 days.

Investors can also count on SodaStream International Ltd. , the developer, manufacturer, and seller of home beverage carbonation systems that carries a Zacks Rank #1 and has a long-term earnings growth rate of 11.25%. This Airport City, Israel-based company delivered an average positive earnings surprise of 57.3% over the trailing four quarters and has a Growth Score of “A”. The company is expected to witness earnings growth of 2.9% in 2016 and 28.6% in 2017. The Zacks Consensus Estimate too has trended upward over the past 30 days.

We also suggest investing in Ralph Lauren Corp. (RL Quick QuoteRL - Free Report) , with a Zacks Rank #2, long-term earnings growth rate of 7.87% and a Growth Score of “A”. This New York-based designer, marketer and distributor of premium lifestyle products delivered an average positive earnings surprise of 10.1% over the trailing four quarters. The Zacks Consensus Estimate too has been on the rise over the past 7 days.

Last but not the least is Central Garden & Pet Company (CENT Quick QuoteCENT - Free Report) , with a Zacks Rank #1, long-term earnings growth rate of 10% and a Growth Score of “A”. This Walnut Creek, CA-based company is a leading producer and marketer of premium and value-oriented products focused on the lawn & garden and pet supplies markets in the U.S. The company delivered an average positive earnings surprise of 60.3% over the trailing four quarters. It is expected to witness solid earnings growth of 61.7% in fiscal 2016 and 9.8% in fiscal 2017. The Zacks Consensus Estimate too has been on the rise over the past 30 days.

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