Top Stock Picks for Week of December 19, 2022
Signet Jewelers Limited SIG is a retailer of diamond jewelry, watches as well as other products. Signet's shares have outperformed the industry in the past three months. It continues gaining from growth in e-commerce business and advancements made with respect to the Inspiring Brilliance strategy. Such upsides supported its performance in third-quarter fiscal 2023, which saw top and bottom-line beat. Sales increased year over year. Signet recently posted better-than-expected results for third-quarter fiscal 2023, beating the Zacks Consensus Estimate. Management raised fiscal 2023 view, reflecting confidence in the current business trends. Signet projects total revenues in the band of $7.77-$7.84 billion, up from $7.60-$7.70 billion projected earlier and $7.83 billion delivered in fiscal 2022. It remains encouraged about the holiday season.
CarMax KMX is the largest retailer of used vehicles in the United States. The acquisition of Edmunds has further solidified CarMax’s position in the used auto ecosystem. CarMax’s omnichannel rollout provides has eased the shopping experience of buyers and has bolstered the company’s prospects. Store-expansion initiatives, fast delivery and high-quality products are improving the company’s market share. KMX’s long-term target of achieving $33-$46 billion in revenue and selling 2-2.4 million units annually combined through its retail and wholesale channels by FY’26 augurs well for growth.
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Signet Jewelers Limited (SIG) : Free Stock Analysis Report
CarMax, Inc. (KMX) : Free Stock Analysis Report
