The global economy is reeling under coronavirus-induced uncertainties since mid-January. The economic devastation has led to the collapse of stock markets and Wall Street is no exception. Although, U.S. stock markets have recovered a large-chunk of the lost ground during the past one and half month, major stock indexes are still far from their all-time highs recorded in mid-February.
Meanwhile, the retail sector turned out one of the worst affected as coronavirus spread across the world. Despite difficulties, a handful of retail stocks with a favorable Zacks Rank, have popped more than 30% in the past month.
Retail Sector Suffers Due to Pandemic
On Apr 15, the Commerce Department stated that U.S. retail and food services sales in March fell 8.7% to $483.1 billion, following a revised reading of 0.4% decline in February. Year over year, retail sales plunged 6.2% in March. The unprecedented fall in March sales marked the