Hottest Retail Stock: Wal-Mart Tops Poll
NEW YORK (
) --
Wal-Mart Stores
(WMT) - Get Report
has been deemed the hottest stock for the back-to-school, according to TheStreet's
.
About 33% of respondents said the discounter is poised to capture market share across the board, when it comes to shopping for value-priced apparel and supplies for the first day of school.
This doesn't come as much of a surprise. Shares of the company ended the week up nearly 2% to $51.68.
On Thursday, retailers reported a better-than-expected 2% decline in
, according to the International Council of Shopping Center.
Best Back To School Stocks
Wal-Mart no longer reports monthly same-store sales results.
Target
(TGT) - Get Report
came in second as the hottest stock for back-to-school. The discounter has been struggling in its apparel and home segments, but is seeing strength in food products.
In August, Target posted a 2.9% drop in same-store sales, which was actually much better than the 5.1% decline analysts expected.
Walgreen
(WAG)
, placing third in our poll, is expected to pick up shoppers who are opting to purchase school supplies like notebooks and pens at drugstores, rather than at traditional office-supply retailers.
The drugstore reported a 1.9% increase in its monthly same-store sales, but fell short of the 3.1% growth analysts expected.
J.C. Penney
(JCP) - Get Report
was a disappointment in August. Analysts and investors believed the department store was poised to gain back-to-school market share with its exclusive and private-label merchandise. However, same-store sales declined 7.9%, worse than the 6.7% drop expected.
Abercrombie & Fitch
(ANF) - Get Report
can't seem to get out of its rut. Only 8.3% of respondents voted the teen retailer as the hottest stock for back-to-school.
On Friday,
by a Citi analyst to sell, citing a continued disintegration of its comparable sales.
The retailer reported a whopping 29% plunge in its August same-store sales, drastically missing the 23.9% tumble Wall Street forecast.
Shares of the company ended the week down 6.5% to $30.17.
-- Reported by Jeanine Poggi in New York
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