TJX Companies, Ross Stores, Lululemon Athletica Inc., and American Eagle Outfitters are all showing strength ahead of their earnings reports. These apparel retailers are ready for significant growth this year.
TJX Companies is up 11.14% in the past three months, bolting 5.19% higher in mid-November following the company’s most recent earnings report.
Ross Stores has outpaced TJX in price performance, returning 23.26% in the past three months. The retailer is also outperforming the broader S&P 500 consumer discretionary sector and is up 11.25% in the past three months.
Analysts have high expectations for Lululemon this year. Wall Street is eyeing earnings growth of 27% this year, and another 14% next year, with significant revenue potential.
“Lululemon has a solid plan to expand its product assortment and geographic reach while building its core business. While many firms are looking to compete in its core categories, we believe the firm benefits from the athleisure fashion trend. We will continue to achieve premium pricing due to the brand’s popularity and the styling and quality of its products,” said David Swartz, Morningstar analyst.
Investors are seeking a potential peak for American Eagle Outfitters. Analysts are eyeing $0.30 per share earnings on revenue of $1.46 billion
Revenue in the apparel market is estimated to be $342.70 billion this year, with a compound annual growth rate of 1.96% between 2023 and 2027, according to Research firm, Statista.
Source: Apparel Retailers – NASDAQ