Is it time to buy retail stocks to buy on the dip? Amid high uncertainty surrounding the near-term prospects of both consumer discretionary retailers, as well as historically recession-resistant retailers like discount stores and grocery stores, this may be a question on your mind. With consumer discretionary retailers, headlines discussing a slowdown in U.S.
consumer spending call into question the merits in buying such names at this point in the economic cycle. That’s not all. Many consumer discretionary retail stocks have also been hammered by mixed quarterly results and downbeat guidance this earnings season.
Regarding consumer staple retail stocks, factors like inflation continue to affect their fiscal and stock price performance. Yet while all of this may suggest at first to stay away from the sector, keep in mind that the market has been waiting for the other shoe to drop for quite some time. The emergence of further uncertainty has pushed many already beaten-down names to oversold prices.
Thus, it may indeed be an opportune time to scoop up some retail stocks to buy on the dip, before they cease to trade at bargain basement prices. The following seven are a prime example of such opportunities. Academy Sports and Outdoors (ASO) Shares in Academy Sports and Outdoors (NASDAQ: ASO ) have pulled back in recent months, with the latest pullback occurring after the release of the sporting goods retailer’s latest quarterly results earlier this month.
During the quarter end.
