With inflation on the rise over the past 12 months, it should come as no surprise the consumer discretionary sector is the third-worst performing sector in the S&P 500, down roughly 20% year-to-date, as of Sept. 9.
When looking deeper into the industries within the consumer discretionary sector, Benzinga found the specialty retail industry is only down 5.07% year-to-date.
Now in the second half of the year, known as the holiday season, specialty retail goods should see a bounce back as consumers will be shopping for the perfect gift.
These three high-yielding investments should see more demand as the season progresses, as they offer just what one needs at an affordable price.
Tractor Supply Co (NASDAQ: TSCO) is offering a dividend yield of 1.83% or $3.68 per share annually, through quarterly payments, with a notable track record of increasing its dividends for 12 years.
Tractor Supply is the largest operator of retail farm and ranch stores in the U.S. and operates 2,016 of its namesake banners in 49 states and 178 Petsense stores, as of 2021.
In the second quarter of 2022, Tractor Supply repurchased approximately 0.9 million shares of its common stock for $188.2 million and paid quarterly cash dividends totaling $102.6 million, returning approximately $290.8 million of capital to shareholders.
TJX Companies Inc (NYSE: NYSE:TJX) is offering a dividend yield of 1.77% or $1.18 per share annually, utilizing quarterly payments, with a track record of increasing its dividends once in the past year.
TJX Companies sells a variety of branded goods, buying inventory from a network of more than 21,000 vendors worldwide, and operates 4,689 stores at the end of fiscal 2022 under the T.J. Maxx, T.K. Maxx, Marshalls, HomeGoods, Winners, Homesense and Sierra banners.
For the first half of fiscal 2023, TJX returned a total of $2.0 billion to shareholders, which includes repurchasing a total of $1.3 billion of TJX stock, retiring 21.4 million shares, and paying $653 million in shareholder dividends. The company continues to expect repurchases of approximately $2.25 billion to $2.50 billion of TJX stock in Fiscal 2023.
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Dicks Sporting Goods Inc (NYSE: DKS) is offering a dividend yield of 1.67% or $1.95 per share annually, making quarterly payments, with a strong track record of increasing its dividends for eight years.
Dick's Sporting Goods sells apparel, footwear and equipment for sports and operates digital platforms. The company has about 730 stores under its namesake brand (including outlet stores) and about 130 specialty stores under the Golf Galaxy, Public Lands and Field & Stream names, as of 2021.
In the first half of 2022, Dick's Sporting Goods repurchased common stock totaling $361.1 million, and the company still has $1.5 billion remaining in its stock repurchase program as of July 30, 2022.
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