LVMUY - My 3 Favorite Retail Stocks for 2020
The year 2019 was a tough one for many retailers. More than 9,300 brick-and-mortar stores closed in the U.S. alone, according to CoreSight Research, representing a 59% increase from 2018. That trend is reflected across many other developed markets.
Despite those bleak numbers, plenty of retail stocks rallied last year. These three retail stocks surged in 2019 -- and they'll continue rising in 2020.
Target's (NYSE: TGT) stock nearly doubled in 2019 as it reaped the rewards of its e-commerce and delivery expansion. Its comparable-store sales rose 4.5% last quarter, on top of its 5.1% growth a year earlier -- giving its nearly 10% comps growth over the past two years. That growth was led by robust sales of women's apparel, a troublesome spot for many of Target's peers.