BBWI - Retail stocks poised for Cyber Monday bounce with holiday forecast still looking strong
Bank of America expects a stronger holiday season this year compared to 2020 with retailers loosening store capacity limits and shoppers are no longer subject to stay-at-home mandates. That confidence comes even as the comparisons to 2020 for Black Friday, Cyber Monday and the two-month holiday period in general are all impacted by the pandemic restrictions a year ago and the pull-ahead of many holiday shopping events into October. The firm keeps Bath & Body Works (NYSE:BBWI) slotted as its top holiday stock pick. BBWI is called an undervalued growth compounder. BofA forecasts strong demand for BBWI as teacher gift buying resumes and notes that the retailer's domestic manufacturing limits supply issues. The SPDR S&P Retail ETF (NYSEARCA:XRT) is up 1.79% in premarket action after shedding 2.41% on Black Friday. BBWI is up 1.88% in premarket action and Amazon (NASDAQ:AMZN) is 1.05% higher. Compare the performance of XRT to the S&P 500 Index.
For further details see:
Retail stocks poised for Cyber Monday bounce with holiday forecast still looking strong