Target (NYSE: TGT) reported underwhelming earnings results last week, as inflation and supply chain challenges weakened its performance. It was just one of several disappointing results from retailers this quarter, as American consumers navigate the current economic environment.
But commentary from Target's management during its first-quarter earnings call actually boosted my confidence about several other companies. "More and more, we are seeing our guests' increasing mobility and love of newness play out in their Target purchases as baskets shift more toward experiences and going out categories," Chief Growth Officer Christina Hennington told analysts.
While retailers may be suffering as consumer behavior shifts, companies in the travel and entertainment businesses could benefit. Here are three ways to play it: Uber Technologies (NYSE: UBER) , Booking.com (NASDAQ: BKNG) , and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) .
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Target's Earnings Have Me Excited About These 3 Non-Retail Stocks