For Immediate Release
Chicago, IL – January 20, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Casey’s General Stores, Inc.’s CASY, The Kroger Co. KR, Ulta Beauty, Inc. ULTA and Five Below, Inc. FIVE.
Here are highlights from Thursday’s Analyst Blog:
Inflation Hits Holiday Sales: 4 Retailers Still Worth a Look
Holiday season sales fell short of industry estimates, as consumers navigated soaring prices and high borrowing costs. Data compiled by the National Retail Federation (NRF) showed that holiday retail sales increased 5.3% year over year to $936.3 billion during 2022’s November-December period. However, the numbers came below NRF’s projection of 6% to 8% increase over the 2021 period to between $942.6 billion and $960.4 billion.
Nonetheless, stimulus savings from last year, steady wage gains and a lower unemployment rate still kept demand alive. While inflation-wary shoppers looked for eye-popping deals to fit their budgets, retailers left no stone unturned to make the most of the season.
Retailers — be it Casey’s General Stores, Inc.‘s, The Kroger Co., Ulta Beauty, Inc. and Five Below, Inc. — have been enhancing customer engagement and making logistics improvements to make the most of the festive season.
The NRF’s report highlighted a year-over-year increase in sales of myriad categories. Sales at grocery and beverage stores rose 7.8%, while the same at general merchandise stores increased 3.8%. Sporting goods stores registered sales growth of 3.5%, while health and personal care stores witnessed an increase of 2.8%.
Sales increased 2.2% at clothing and clothing accessory stores, while the metric jumped 1.5% at building materials and garden supply stores. However, demand at furniture and