The soft CPI print in April had plenty to do with weaker-than-expected growth in retail sales. Compared to March figures, retail sales in April remained unchanged, dropping 3% on a year-over-year (YOY) basis. Hence, investors may want to be circumspect over consumer stocks to buy.
However, consumer spending remains resilient despite the pressure on household income and job growth. Customers are now being more selective though, prioritizing their retail purchases. Therefore, investors would want to wager on high-quality consumer stocks to buy, offering a healthy upside ahead despite the headwinds.
Keeping that in mind, here are three top consumer stocks to buy, which continue to prove their mettle despite operating in an unconducive environment. Consumer Stocks to Buy: Walmart (WMT) Walmart (NYSE: WMT ) has been on fire lately, reaching a new all-time high following a blow-out fiscal Q1 earnings report . Brushing off inflationary pressures, it posted sizable top-and-bottom-line beats marked by robust spending from wealthier customers and strong e-commerce growth.
e-commerce growth, in particular, stood out, jumping 22%, underscoring its position as the most versatile discount retailer in the world. Also, the strength of its advertising machine cannot be denied either, which 24% in Q1. Moreover, the company’s future looks remarkably bright, with recent figures showcasing the strong depth of its business.
Its stock has gained more than 28% last year and over 23% in the past si.