Pay close attention to back to school stocks, we said on July 20.
“With kids heading back to school in just weeks, we anticipate a bump in related stocks, such as Target (TGT), Amazon (AMZN), Walmart (WMT), and Kohl’s (KSS), for example.”
With the exception of Target, Walmart, Amazon, and Kohl’s pushed higher, as hoped.
In fact, since July 20, WMT ran from about $155 to $160.42 so far. Amazon ran from $130 to $141.71, as Kohl’s ran from $25.55 to $28.70 so far. All could push even higher.
All with consumers expected to spend up to $41.5 billion for back to school gear, which should pass the $37.1 billion spent in 2021. Back to school college spending could hit $94 billion, about $20 billion more than last year, according to the National Retail Federation.
“Back-to-class shopping is one of the most important consumer shopping occasions of the year. Our research for 2023 shows American consumers are eager to jump start their back-to-school and college purchases early,” NRF President and CEO Matthew Shay said in a press release on the survey. “Retailers have been preparing for months to ensure they are well stocked with essential items that families and students need for the school year.”