I believe Dick’s Sporting Goods' stock will outperform in the week ahead, with a potential breakout to a new record high on the horizon, as the athletic-gear retailer’s second quarter earnings will surprise to the upside, in my opinion, thanks to favorable consumer demand trends.
Q2 same-store sales - which are expected to increase 2.5% compared to last year - will likely top estimates thanks to resilient consumer demand for sports and recreation clothing and equipment even as overall discretionary spending wobbles. Shares are up 21.9% year-to-date, much better than the 7.2% gain recorded by the SPDR® S&P Retail ETF , which tracks a broad-based, equal-weighted index of U.S. retail companies in the S&P 500.Sticking with retailers, I anticipate Macy’s shares will suffer a challenging week ahead, with a potential revisit to recent lows on the way, as the struggling department store chain will miss estimates for second quarter earnings in my view and provide a weak outlook.
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Source: CNBC - 🏆 12. / 72 Read more »