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The durables and apparel subsector is undervalued by about 20% relative to 11-year averages. Auto and components are the less attractive subsector regarding valuation and quality metrics. XLY fast facts. 10 stocks cheaper than their peers in August. This monthly arti...
With two-thirds of the global economy at risk of stagflation, luxury goods, along with other traditional hedging assets, will provide headwind protection. Among luxury goods stocks, Tapestry is well positioned to benefit from stiff demand in western economies and a growing China. ...
To date, 151 of the 204 companies in our Retail/Restaurant Index have reported their earnings results for Q2 2022, representing 74% of the index. The blended revenue growth estimate for the 204 companies in this index is 9.0% for Q2 2022. July’s monthly retail sales came in...
Total nominal retail sales and food-services spending were unchanged in July, following an 0.8 percent increase in June. Real core retail sales posted a solid 0.4 percent rise in July, after declining less than 0.1 percent in June. Overall, nominal total and core retail sales rema...
At the onset of 2022, we believe various consumer businesses were emerging from the pandemic with some degree of “over-earning”. Consumer weakness and trade-downs to less expensive goods are increasingly apparent (especially at lower incomes levels), while managements ha...
The Refinitiv/Ipsos Consumer Confidence Index has declined this year in the wake of continued inflationary pressure, rising interest rates, and global uncertainty. The Refinitiv U.S. Retail and Restaurant Q2 earnings index, which tracks changes in the growth rate of earnings within th...
Persistently elevated rates of price increases and an intensifying Fed tightening cycle are impacting economic activity. Real final sales to private domestic purchasers have shown greater resilience. Initial claims remain at a very low level by historical comparison, but a clear u...
Global equity markets went into a protective crouch last quarter, and factor performance followed suit. The collapse in Consumer Discretionary and/or Technology stocks was a dominant driver of global factor performance in Q2. The Quality premium versus Value has returned to its lo...
The inflation surge has dominated the narrative for equity investors in 2022. Computer chip shortages, COVID shutdowns, and the war in Ukraine have combined to create broad supply chain bottlenecks that limited automotive production globally. In this environment, investors in US e...
Influencers and social media trends have reignited the beauty industry in recent years. Sneakerheads and workout apparel enthusiasts unite under one mindset: performance over anything else. Historically, dollar stores have been key beneficiaries of trade-down behavior. T...