Analysts are calling for a stand-out season for discounters such as Costco (NasdaqGM: COST) and Target (NYSE: TGT). Retail Metrics data also points out that high-end retailers such as Saks (NYSE: SKS) and Nordstrom (NYSE: JWN) are likely to outperform even the discount retailers and the mid-level stores.
Black Friday is around the corner for retailers, so they are beginning to plan and announce price matching offers and longer hours to attract more consumers. Additionally, major retailers are hiring temporary workers for the season.
“There are a lot of temporary hires going on as retailers gear up for the holiday season,”John Challenger, chief executive of the research firm Challenger, Gray & Christmas, said. “Consumers might be opening up their wallets a little bit more over the holiday season.”
SPDR S&P Retail
Tisha Guerrero contributed to this article.