U.S. Retail Sales Up 3.1% in November, Benefiting Amazon and Others
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Fool
- Retail Sales Growth: U.S. retail sales increased by 0.6% month-over-month and 3.1% year-over-year in November, indicating robust consumer spending that is likely to further stimulate investment and expansion in the retail sector.
- E-commerce Performance: Amazon's nonstore retail sales rose by 7.2% in November, reinforcing its position as a leader in e-commerce, which is expected to enhance its market share and profitability, particularly driven by growth in cloud computing and advertising.
- Sports Goods Sales Recovery: Sporting goods stores saw a 7.8% sales increase, benefiting companies like Nike and Dick's Sporting Goods, with insider buying by Nike's CEO and board members reflecting confidence in the company's recovery in North America and Europe.
- Beauty Industry Outlook: e.l.f. Beauty is poised for growth as health and personal care store sales rose 6.7% year-over-year, with its market share expanding and the successful acquisition of Rhode expected to contribute to long-term growth potential.
Analyst Views on AMZN
Wall Street analysts forecast AMZN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMZN is 294.71 USD with a low forecast of 250.00 USD and a high forecast of 340.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
43 Analyst Rating
40 Buy
3 Hold
0 Sell
Strong Buy
Current: 238.180
Low
250.00
Averages
294.71
High
340.00
Current: 238.180
Low
250.00
Averages
294.71
High
340.00
About AMZN
Amazon.com, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content it has purchased for resale and products offered by third-party sellers. The Company’s segments include North America, International and Amazon Web Services (AWS). It serves consumers through its online and physical stores and focuses on selection, price, and convenience. Customers access its offerings through its websites, mobile apps, Alexa, devices, streaming, and physically visiting its stores. It also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and develops and produces media content. It serves developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
