5 Best Retail Stocks To Buy Now

3. Costco Wholesale Corporation (NASDAQ: COST)

Costco is one of the largest retailers in the world. The company ranks 14 on the Fortune 500 list. Costco sells grocery, prime beef, organic foods and essential items. It has close to 800 warehouses in the U.S. The company has a loyal customer base, and CEO Craig Jelinek believes that physical stores remain critical to the company in the long-term future. However, Costco is seeing a huge demand on its online channels.

In December 2020, RBC’s Scot Ciccareli said that 20201 will be a strong year for Costco, as the company has the strongest buying power in the retail space.

A total of 73 hedge funds tracked by Insider Monkey held stakes in Costco entering the fourth quarter, up from 61 funds a quarter earlier.