BJ - Brick and mortar names move higher as internet retail reels

Just as the e-commerce sector suffers one of its worst days in recent memory, many brick and mortar names are benefiting. In sharp contrast to online vendors like Etsy and StitchFix, more modestly priced, brick and mortar options like TJX Companies (TJX) and Ross Stores (ROST) are rising.  “We expect Ross to gain market share this year and next as it likely returns to normalized comps faster than most peers,” Bank of America analyst Lorraine Hutchinson wrote in a  recent note on the latter retailer. “The company has a long history of being able to grow in good and bad macroeconomic environments.” The same focus on resilience in an inflationary environment led Loop Capital Markets to voice optimism on both Costco Wholesale Corporation (COST) and BJ’s Wholesale Club (BJ). The firm noted that consumers tightening their belts in terms of gas and food costs are often driven to both wholesale

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Brick and mortar names move higher as internet retail reels