Despite the macroeconomic issues, the big box retailers are well positioned to experience stable growth because of the inelastic demand for their goods. Given the industry’s defensive nature, investors should check out fundamentally strong stocks, Tesco PLC (TSCDY) and Albertsons Companies, Inc. (ACI). These stocks look undervalued at current prices.
The NRF published its annual estimate, predicting retail sales to increase by 4% to 6% in 2023. This year, NRF expects global retail sales to amount between $5.13 trillion and $5.23 trillion.
