Why Walmart and Target Look Like Big Winners This Holiday Season -- Barrons.com
Why Walmart and Target Look Like Big Winners This Holiday Season -- Barrons.com
DJ Why Walmart and Target Look Like Big Winners This Holiday Season -- Barrons.com
DJ為什麼沃爾瑪和塔吉特看起來像這個假日季的大贏家--Barrons.com
By Avi Salzman
阿維·薩爾茲曼著
Walmart and Target stocks have been on a tear this year, and one analyst expects the momentum to last through the holidays.
沃爾瑪和塔吉特的股票今年一直在飆升，一位分析師預計，這種勢頭將持續到假期。
The big-box retailers are uniquely positioned to profit as Americans express more concern about the economy and look to discount stores for their holiday shopping, wrote Cowen analyst Oliver Chen.
Cowen分析師Oliver Chen寫道，隨着美國人對經濟表現出更多擔憂，並尋求折扣商店進行假日購物，大型零售商處於獨特的盈利地位。
Walmart (WMT) is up 28% this year and Target (TGT) has gained 66%. Both have improved their web-based offerings and services, adding more options like faster delivery, and allowing people to pick up items in the store after ordering online. Curbside pickup "should help both retailers win over late holiday season shoppers," Chen said.
沃爾瑪(Walmart)今年上漲了28%，塔吉特(Target)上漲了66%。這兩家公司都改進了基於網絡的產品和服務，增加了更多選項，比如更快的送貨速度，並允許人們在線訂購後在商店提貨。陳説，路邊的提貨“應該會幫助兩家零售商贏得假日季後期購物者的支持。”
Both companies have also benefited from the closures of other retailers, allowing them to take market share in several areas. Toys in particular have helped lift sales at Target. Several toy chains have gone out of business since the start of 2018.
這兩家公司還受益於其他零售商的關閉，使它們能夠在幾個領域佔據市場份額。玩具尤其幫助提升了塔吉特的銷售額。自2018年初以來，已有幾家玩具連鎖店倒閉。
There are other reasons to like the stocks, Chen argues. The U.S. economy remains strong and employment has continued to rise, although some data indicates growing concern about the economy, a factor that could affect shopping.
陳認為，喜歡這些股票還有其他原因。美國經濟保持強勁，就業繼續上升，儘管一些數據表明人們對經濟的擔憂日益加劇，這一因素可能會影響購物。
Consumer surveys that Cowen has reviewed "suggest an uptick in concern over future economic uncertainty year over year, which could lead to lower absolute spending levels, plus higher promotions to entice shoppers," Chen wrote. "With this caution in mind, we favor value-oriented stocks this holiday, and believe that the environment is favorable for value momentum to continue at both Walmart and Target."
考恩回顧的消費者調查顯示，消費者對未來經濟不確定性的擔憂逐年上升，這可能會導致絕對支出水平下降，以及更高的促銷活動來吸引購物者，陳寫道。“考慮到這種謹慎，我們在這個假期青睞價值型股票，並認為環境有利於沃爾瑪和塔吉特繼續保持價值動能。”
Other retailers could fare worse. A relatively warm November may be hurting apparel sales, Chen said, noting that several companies that sell apparel are marking down prices. He said he is particularly worried about Macy's (M), J.C. Penney (JCP) and Gap (GPS).
其他零售商的情況可能會更糟。陳説，相對温暖的11月可能正在損害服裝銷售，並指出幾家銷售服裝的公司正在降價。他説，他特別擔心梅西百貨(Macy‘s)、J.C.Penney和Gap。
Write to Avi Salzman at avi.salzman@barrons.com
寫信給Avi Salzman，電子郵件：avi.salzman@Barrons.com
(END) Dow Jones Newswires
(完)道瓊斯通訊社
November 12, 2019 12:38 ET (17:38 GMT)
2019年11月12日東部時間12：38(格林尼治標準時間17：38)
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