KSS - These seven retail stocks look undervalued after a big Black Friday
Mastercard SpendingPulse reports total retail sales were up nearly 30% on Black Friday compared to the pandemic-disrupted shopping event last year, with apparel and department store sales leading the way. Meanwhile, Adobe Digital Economy Index says consumers spent $6.6B through 9 p.m. ET on Friday and still expects total spending of between $8.8B and $9.2B to have been tallied for the day. Those strong marks came with promotional activity down this year in the retail sector due to the ability of chains to more easily sell products at full price. Despite the strong day for retail, the sector sold off over widespread concerns of a new COVID variant with a high number of mutations. Yesterday's decline also followed selling pressure with mall stocks when earnings reports stoked investor concerns on rising costs. Where are the values after the selloff? A screen for apparel and department store stocks with ratings of at
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These seven retail stocks look undervalued after a big Black Friday