Saint Patrick's Day is a cultural festival held on Mar 17, the death date of Ireland’s Saint Patrick. Today the event is not bound to Ireland itself, with its reach spreading to different parts of world.
More than half of American adults will take part in the celebration, with 72% of those aged under 35, 57% of those under 55 years of age and 41% belonging to the 55-and-older population, per National Retail Federation. Consumers plan to spend an average of $40 for the day. However, investors should note that the participation rate has declined for three age groups this year.
However, investors can get into the party mood through this event. Different corners of economy should earn solid bucks from it and make a meaningful impact on the stock market. Let’s tell you how.
When it comes to celebration, 82% men and 86% women prefer to wear green. So, investors can surely bet on the companies that sell such outfits or costumes. Also, 30% women and 23% men are willing to go for home or office decoration. There are several who seek to host/attend a party. So, what could be better than to invest in some stores that sells decorative stuffs and green costumes?
eBay Inc. (EBAY - Free Report) – Zacks Rank #3 (Hold)
It is a global commerce leader, which includes our Marketplace, StubHub and Classifieds platforms. Along with green costumes, the online store sells St. Patrick’s Day decorations like lighted Shamrocks, glitter Shamrock or wooden Shamrock.
Walmart Inc. (WMT - Free Report) ) – Zacks Rank #2 (Buy)
This multinational retail corporation operates a chain of hypermarkets, discount department stores and grocery stores, It sells green Irish T-Shirts, Hat, Shamrock-shaped sunglasses, St. Patrick's Day Leprechaun Adult Shirt and many more.
Stock Up on Alcohol Stocks
As many as 35% of women and 32% of men will hit bars or restaurants to celebrate the event.
Compania Cervecerias Unidas, S.A. (CCU - Free Report) ) – Zacks Rank #1
The company has successfully positioned itself as a Chilean multinational beverage company, with diversified businesses and operations focused on the Southern Cone of South America.
Diageo plc (DEO - Free Report) ) – Zacks Rank #2
This is a multinational branded food and drinks company. Diageo has an outstanding portfolio of world-famous food and drink brands including Smirnoff, Johnnie Walker, J&B, Gordon's, Malibu, Baileys, Guinness and Tanqueray.
Party at Bars & Restaurants
The day normally see massive footfall in pubs and restaurants. Some eateries even offer deals. So, one may keep a tab on these restaurant stocks.
Brinker International Inc. (EAT - Free Report) ) – Zacks Rank #2
The company owns, operates, franchises or is involved in the ownership of restaurants under the names Chili's Grill & Bar and Maggiano's Little Italy. Chili’s is celebrating St. Patrick’s Day with its $5 Lucky Jameson Margarita special through Mar 31, 2019.
Cracker Barrel Old Country Store Inc. (CBRL - Free Report) ) – Zacks Rank #3
It is principally engaged in the operation and development of the Cracker Barrel Old Country Store restaurant and retail concept. It is serving Corned Beef and Cabbage from Mar 11-17, 2019, per the source.
Pot of Gold for Discount Retailers
Many people prefer to hit discount stores to purchase some of their St. Patrick’s Day stuff. NRF’s Fall 2018 Consumer View report revealed that more than 90% of millennials and adult Gen Zers normally shop at bargain retailers. This makes sense to have a look at discount retailers for green returns.
Target Corporation (TGT - Free Report) ) – Zacks Rank #2
Target Corporation operates large-format general merchandise and food discount stores in the United States, which include Target and SuperTarget stores.
Costco Wholesale Corporation (COST - Free Report) – Zacks Rank #2
The company operates an international chain of membership warehouses that carry quality, brand name merchandise at substantially lower prices than what is typically found at conventional wholesale or retail sources.
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