Despite macroeconomic concerns, retail sales are likely to rise this year as a result of easing inflation and a solid job market. So, quality retail stocks NEXT plc (NXGPY), MINISO Group Holding Limited (MNSO), and Sally Beauty Holdings, Inc. (SBH) could be wise additions to your portfolio.
Consumer spending showed resiliency in the face of high inflation and rising borrowing costs. Retail sales increased 0.3% in May compared to the prior month. Moreover, according to the National Retail Federation, retail sales will increase between 4% and 6% in 2023.
