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May 13, 2021, 3:50 p.m. EDT

Top Consumer Discretionary Stocks To Watch In May

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May 13, 2021 (StockMarket.com via COMTEX) -- Should Investors Have These 5 Top Consumer Discretionary Stocks In Their Portfolios?

As investors navigate the stock market now, consumer discretionary stocks could be on their radars. In fact, it would not surprise me to see that they are the most active stocks today . Why? Simply put, the economy continues to recover from the devastating effects of the coronavirus pandemic.

We can see this from the Department of Labor's latest weekly unemployment figures. The number of initial jobless claims fell to 473,000, better than the expected 490,000. Moreover, the ninth batch of $1,400 stimulus checks has just gone out to Americans. This adds up to total payments of about $388 billion thus far. In theory, all this would leave consumers with more discretionary funds right now. By extension, I could see this helping consumer discretionary stocks maintain their current momentum moving forward.

For the most part, some of the top consumer discretionary companies are not resting on their laurels now. Earlier today, Amazon ( NASDAQ: AMZN ) revealed plans to hire 75,000 workers across its e-commerce division. Specifically, the tech giant is looking to increase manpower in its warehouse and delivery network in the U.S. and Canada. At the same time, fellow retailer Walmart ( NYSE: WMT ) is planning to acquire virtual fitting room company, Zeekit. This would be in line with the company's plan to expand into the apparel market. All in all, it seems like these consumer discretionary giants are gearing up for busy times ahead. In that case, should investors be watching these top consumer discretionary stocks in the stock market today?

Consumer Discretionary Stocks To Watch

Airbnb Inc.

Airbnb is an online marketplace for lodging, primarily homestays for vacation rentals, and tourism activities. The company is based in San Francisco, California and its platform is accessible via website and mobile app. It does not own listed properties but instead receives a commission from each booking made through the platform. ABNB stock currently trades at $132.51 as of 2:00 p.m. ET. The company will be reporting its first-quarter financials for 2021 after the market closes today.

In its fourth-quarter financials that were posted in February, the company had over 46 million nights and experiences booked. Its gross booking value was $5.9 billion for the quarter. Total revenue for the quarter was $859 million. These figures are impressive given how the pandemic had severely affected Airbnb's business. This could be due to its asset-light business model that proved to be resilient and inherently adaptable.

The company says that its business has started to recover faster than anyone had expected. With millions of guests booking stays closer to home, domestic travel quickly rebounded on Airbnb worldwide. Given all of this, will you consider buying ABNB stock?

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Canada Goose Holdings Inc.

Canada Goose is a lifestyle brand and a leading manufacturer of performance luxury apparel. The company markets a wide range of apparel, both wholesale and direct-to-customers with their retail stores. Every collection is informed by the rugged demands of the Arctic, ensuring a legacy of functionality that is embedded in all its products. GOOS stock currently trades at $38.71 as of 2:00 p.m. ET and has been up by over 85% in the last year. The company has just reported its fourth-quarter financials today.

First off, the company posted a total revenue of $172.1 million for the quarter. Net income for the quarter was $2.9 million or $0.03 per diluted share. Impressively, its total revenue was much higher compared to pre-pandemic levels. Its global e-commerce revenue increased by 123.2%, driven by high double-digit and low triple-digit growth rates in all major existing markets. All things considered, will you add GOOS stock to your portfolio?

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