This past year was a tough one for most companies, but it was downright brutal for many retailers. COVID-19 lockdowns helped set the stage for what Coresight Research believes could be as many as 25,000 U.S. store closures in 2020, nearly tripling 2019’s tally. The fact that consumers have trained themselves to do even more of their shopping online suggests 2021 will be no picnic for retailers either.
There’s a handful of retail names, however, that may come out of the pandemic in even stronger shape than when they entered it, after better meshing their online and in-store operations. Here’s a rundown of the coming year’s best retail stock picks, and a look at how they’re defying the odds.
For years, home improvement retailer Lowe’s (NYSE: LOW) has struggled to keep pace with its much bigger rival Home Depot. There’s a chance, however, the smaller name has already become the better investment.