FLWS - Valentine's Day spending is expected to be strong - these stocks could be a match

Valentine's Day spending by consumers is forecast by the National Retail Federation and Prosper Insights to rise 8.4% to $25.9B this year. The NRF said it is likely to be one of the highest spending years on record.

More than half of consumers surveyed by the firms said they plan to celebrate and will spend an average of $192.80, which is noted to be the second-highest figure since NRF and Prosper started tracking Valentine’s Day spending in 2004.

"While spending on significant others and family members is in line with last year, many consumers are looking to show appreciation for the other meaningful relationships in their lives. Of the $17 increase in per-person spending, $14 comes from gifts for pets, friends and co-workers, along with classmates or teachers."

The top gifts expected to be doled out on Valentine's Day include candy (57% of respondents), greeting cards (40%), flowers (37%), an evening out (32%), jewelry (21%), gift cards (20%) and clothing (19%).

Some stocks traditionally associated with getting an extra sales boost from Valentine's Day include 1-800-Flowers.com ( NASDAQ: FLWS ), Hershey ( HSY ), Rocky Mountain Chocolate Factory ( RMCF ), Mondelez International ( MDLZ ), Amazon ( AMZN ), Signet ( SIG ), LVMH ( OTCPK:LVMHF ), Victoria's Secret ( VSCO ), Movado ( MOV ), Prada ( OTCPK:PRDSY ), Estee Lauder ( EL ), Inter Parfums ( IPAR ), and Pandora ( OTCPK:PANDY ). Also expect a strong post-pandemic Valentine's Day for OpenTable, owned by Booking Holdings ( BKNG ).

For further details see: