The 3 Largest Retail Apocalypse-Proof Stocks in 2020
The retail apocalypse has wiped out thousands of stores over the past decade, due to the over-expansion of malls, cascading damage from the 2008-09 Great Recession, and competition from superstores and online marketplaces. The coronavirus pandemic accelerated that meltdown this year, and forced even more retailers, including JCPenney and Neiman Marcus, to file for Chapter 11 bankruptcy protection. The retail situation seems dire -- but not all retailers are being crushed.
Let's examine three large-cap retail stocks that are bucking the secular decline -- Amazon (NASDAQ: AMZN), Best Buy (NYSE: BBY), and Target (NYSE: TGT) -- and see why they belong in your portfolio.
Image source: Getty Images.
Amazon's expansion is often cited as a root cause of the retail apocalypse, and it continues to benefit from closures of brick-and-mortar stores. It could account for nearly 40% of all U.S. e-commerce sales next year, according to eMarketer, which makes it the undisputed king of online retail.
Source Fool.com
