3 Top Retail Stocks for August 2020
Retail has been one of the industries hit hardest by the pandemic, economic lockdown, and ensuing recession. Sure, over a decade of internet disruption and shifting consumer preferences already had businesses reworking how they distributed their goods, but without a doubt things have rapidly changed in the last few months -- and many companies were underprepared for this new digital era.
That isn't to say everyone is faring badly. On the contrary, even under duress, some retail is thriving, dealing with the changes, and gearing up for economic recovery. Three retail stocks that look like buys to me this month are Etsy (NASDAQ: ETSY), Texas Roadhouse (NASDAQ: TXRH), and Beyond Meat (NASDAQ: BYND).
Online marketplaces have been booming this year, and Etsy is no exception. The e-commerce partner for small businesses and craftspeople reported a 32% jump in value of merchandise sold on its platform during the first quarter of 2020, and followed that up with a massive 146% surge during Q2 (the period from April to June). Resulting revenue was 137% higher than a year ago at $429 million.
Source Fool.com
