3 Top Retail Stocks To Buy In April

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The retail industry is poised to make a robust recovery this month, following a sharp pullback in February owing to the harsh weather conditions in the U.S.’ Southern states. The accelerated reopening of the nation’s economy, allowing brick-and-mortar companies to return to near full-capacity operation, has been driving the retail space. Moreover, the government is currently ahead of its vaccination schedule; 40% of U.S. adults have now been vaccinated. Also, approximately 127 million $1400 fiscal recovery checks were deposited as of March 25.

Furthermore, retail companies have strengthened their e-commerce operations and have also been opening new stores, hopefully making them more resilient amid the current worry around the potential for a fourth wave of COVID-19 infections. According to the National Retail Federation (NRF), the world’s largest retail trade association, U.S. retail sales are expected to grow in the range of 6.5% — 8.2% in 2021 to hit $4.33 trillion.

We think it is wise to bet on O’Reilly Automotive, Inc(ORLY - Get Rating), Kohl’s Corporation (KSS - Get Rating), and Dick’s sporting goods Inc. (DKS - Get Rating). These retail companies have managed to stage impressive recoveries in their last-reported quarters.

O’Reilly Automotive, Inc(ORLY - Get Rating)

ORLY is an established auto parts retailing company. Its product line includes new and remanufactured automotive hard parts and accessories. From operating a single store unit in 1957 to now operating more than 5,594 stores across 47 U.S. states and 22 ORMA stores across Mexico, the company has come a long way. It sells its products to both do-it-yourself (DIY) and professional service provider customers.

ORLY  is scheduled to release its financial results for the fiscal 2021 first quarter (ended March 31, 2021) on April 28. Its sales surged 13.9% year-over-year to $2.83 billion for the fourth quarter ended December 31, 2020. Its gross profit has increased 11.1% year-over-year to $1.47 billion. ORLY’s net income came in at $3.93 billion for the quarter, up 20.9% year-over-year. Moreover, its EPS increased 27.1% year-over-year to $5.40.

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