Brick and mortar names move higher as internet retail reels

Brick and mortar names move higher as internet retail reels

Apr 20, 2022 by Seeking Alpha

Key Facts

  • “We expect Ross to gain market share this year and next as it likely returns to normalized comps faster than most peers,” Bank of America analyst Lorraine Hutchinson wrote in a recent note on the latter retailer.
  • The firm noted that consumers tightening their belts in terms of gas and food costs are often driven to both wholesale clubs.
  • Both retailers benefit from their defensive characteristics, a fact cited by Goldman Sachs in the bank’s recent review of top picks to insulate portfolios from macroeconomic pressure.
  • While this might seem to initially be a negative for the likes of Lowe’s (LOW) and Home Depot (HD), the red-hot housing market over the past few years means there are many relatively recent homebuyers that will be eager to make improvements rather than looking towards buying a new home.

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