A number of retail stocks are at new all-time highs as sentiment in the sector continues to improve after strong earnings reports from heavyweights Walmart (WMT -0.2%), Target (TGT +4.3%), Home Depot (HD +0.2%) and Lowe's (LOW +6.7%).
Retail names trading at or very close to their 52-week highs include Best Buy (BBY +0.5%), American Eagle Outfitters (AEO +0.6%), Costco (COST +0.6%), Dollar General (DG +0.4%), Five Below (FIVE +2%), TJX Companies (TJX -0.4%) and Wolverine World Wide (WWW +0.5%).
While analysts are pointed to the strong U.S. macroeconomic backdrop as a driver of sales, they are also observing that chain stores are starting to see the benefits of their e-commerce investments at scale. E-commerce productivity has been a common theme on earnings conference calls this quarter.
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