We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cyber Monday Set for Record Online Sales: 5 Stocks to Buy
Read MoreHide Full Article
The coronavirus pandemic has been working miracles for e-commerce, with the majority of Americans shopping online on fears of getting contaminated by the deadly virus. This may well see this year’s Cyber Monday as the best ever as predicted by Adobe Analytics.
This would come after record Thanksgiving Day and Black Friday online sales.
Cyber Monday Sales Projected to Grow
According to Adobe Analytics, this Cyber Monday could emerge as the largest digital sales day ever. Adobe Analytics projects Cyber Monday sales to reach between $10.8 billion and $12.7% billion, indicating 15% to 35% year-over-year growth.
Last year, consumers spent a record $9.2 billion on Cyber Monday, making it the largest single-day shopping event in U.S. history. According to the National Retail Federation, customers spent a record $730 billion across all platforms in 2019, with e-commerce generating $167.8 billion of total sales.
E-Commerce Driving Retail Sales
Retailers have been struggling to stand back on their feet following the battering they received from the lockdown following the coronavirus outbreak. E-commerce came as a huge savior, as most people preferred shopping online.
The trend has since then continued as fears of COVID-19 fail to subside. This has seen Black Friday and Thanksgiving Day witnessing record online sales this year. According to data released by Adobe Analytics, Black Friday online sales grew 21.6% year over year, with Americans spending a staggering $9 billion. Moreover, a total of $5.1 billion was spent online on Thanksgiving Day, reflecting a 21.5% year-over-year increase. The pandemic has changed the entire concept of shopping with an increasing number of people depending on e-commerce.
Our Choices
E-commerce seems to be the most convenient and safest mode of shopping amid growing cases of coronavirus. This makes for an opportune time to invest in retail stocks that have a strong online presence.
Best Buy Co., Inc. (BBY - Free Report) is a multinational specialty retailer of consumer electronics, home office products, entertainment software, communication, food preparation, wellness, health, security, appliances and related services.
The company’s expected earnings growth rate for the current year is 27.8%. The Zacks Consensus Estimate for current-year earnings has improved 9% over the past 60 days. Best Buy presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DICKS Sporting Goods, Inc. (DKS - Free Report) operates as a major omni-channel sporting goods retailer, offering athletic shoes, apparel, accessories and a broad selection of outdoor and athletic equipment such as for team sports, fitness, camping, fishing, tennis, golf and water sports.
The company’s expected earnings growth rate for the current year is 58.5%. The Zacks Consensus Estimate for current-year earnings has improved 49.2% over the past 60 days. Dicks Sporting sports a Zacks Rank #1.
Systemax Inc. is a direct marketer of brand name and private label products, including personal desktop computers, notebook computers, computer-related products, and industrial products, in North America and Europe.
The company’s expected earnings growth rate for the current year is 22.3%. The Zacks Consensus Estimate for current-year earnings has improved 26.9% over the past 60 days. Systemax has a Zacks Rank #2.
Tapestry, Inc. (TPR - Free Report) is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The company offers lifestyle products, which include handbags, women’s and men’s accessories, footwear, jewelry, seasonal apparel collections, sunwear, travel bags, fragrance and watches.
The company’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 21.6% over the past 60 days. Tapestry has a Zacks Rank #1.
Hibbett Sports, Inc. is a major athletic-inspired retailer, located in small and mid-sized markets across the country. The company operates predominantly in the South, Southwest, Mid-Atlantic and Midwest regions of the United States.
The company’s expected earnings growth rate for the current year is more than 100%. The company’s shares have gained 33.4% over the past 60 days. Hibbett Sports has a Zacks Rank #1.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Cyber Monday Set for Record Online Sales: 5 Stocks to Buy
The coronavirus pandemic has been working miracles for e-commerce, with the majority of Americans shopping online on fears of getting contaminated by the deadly virus. This may well see this year’s Cyber Monday as the best ever as predicted by Adobe Analytics.
This would come after record Thanksgiving Day and Black Friday online sales.
Cyber Monday Sales Projected to Grow
According to Adobe Analytics, this Cyber Monday could emerge as the largest digital sales day ever. Adobe Analytics projects Cyber Monday sales to reach between $10.8 billion and $12.7% billion, indicating 15% to 35% year-over-year growth.
Last year, consumers spent a record $9.2 billion on Cyber Monday, making it the largest single-day shopping event in U.S. history. According to the National Retail Federation, customers spent a record $730 billion across all platforms in 2019, with e-commerce generating $167.8 billion of total sales.
E-Commerce Driving Retail Sales
Retailers have been struggling to stand back on their feet following the battering they received from the lockdown following the coronavirus outbreak. E-commerce came as a huge savior, as most people preferred shopping online.
The trend has since then continued as fears of COVID-19 fail to subside. This has seen Black Friday and Thanksgiving Day witnessing record online sales this year. According to data released by Adobe Analytics, Black Friday online sales grew 21.6% year over year, with Americans spending a staggering $9 billion. Moreover, a total of $5.1 billion was spent online on Thanksgiving Day, reflecting a 21.5% year-over-year increase. The pandemic has changed the entire concept of shopping with an increasing number of people depending on e-commerce.
Our Choices
E-commerce seems to be the most convenient and safest mode of shopping amid growing cases of coronavirus. This makes for an opportune time to invest in retail stocks that have a strong online presence.
Best Buy Co., Inc. (BBY - Free Report) is a multinational specialty retailer of consumer electronics, home office products, entertainment software, communication, food preparation, wellness, health, security, appliances and related services.
The company’s expected earnings growth rate for the current year is 27.8%. The Zacks Consensus Estimate for current-year earnings has improved 9% over the past 60 days. Best Buy presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DICKS Sporting Goods, Inc. (DKS - Free Report) operates as a major omni-channel sporting goods retailer, offering athletic shoes, apparel, accessories and a broad selection of outdoor and athletic equipment such as for team sports, fitness, camping, fishing, tennis, golf and water sports.
The company’s expected earnings growth rate for the current year is 58.5%. The Zacks Consensus Estimate for current-year earnings has improved 49.2% over the past 60 days. Dicks Sporting sports a Zacks Rank #1.
Systemax Inc. is a direct marketer of brand name and private label products, including personal desktop computers, notebook computers, computer-related products, and industrial products, in North America and Europe.
The company’s expected earnings growth rate for the current year is 22.3%. The Zacks Consensus Estimate for current-year earnings has improved 26.9% over the past 60 days. Systemax has a Zacks Rank #2.
Tapestry, Inc. (TPR - Free Report) is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The company offers lifestyle products, which include handbags, women’s and men’s accessories, footwear, jewelry, seasonal apparel collections, sunwear, travel bags, fragrance and watches.
The company’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 21.6% over the past 60 days. Tapestry has a Zacks Rank #1.
Hibbett Sports, Inc. is a major athletic-inspired retailer, located in small and mid-sized markets across the country. The company operates predominantly in the South, Southwest, Mid-Atlantic and Midwest regions of the United States.
The company’s expected earnings growth rate for the current year is more than 100%. The company’s shares have gained 33.4% over the past 60 days. Hibbett Sports has a Zacks Rank #1.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>