U.S. Hardlines & Food Retail "What's The Outlook for the Hardlines, Broa..."

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U.S. Hardlines & Food Retail "What's The Outlook for the Hardlines, Broa..."

Global Research

22 June 2026ab

U.S. Hardlines & Food Retail Equities

AmericasWhat's The Outlook for the Hardlines,

Broadlines, and Food Retail Sector in 2H 2026 - Retailers, Broadline

A Deep Dive in Slides Michael AnalystLasser

michael.lasser@ubs.com

+1-212-713 2440

Overall, we expect the volatility to continue in 2H 2026. Mark Carden

Analyst

The net takeaway from our deep-dive into the outlook for this group into the second mark.carden@ubs.com

half is to expect more of the same. At this point, the sector lacks the unique appeal of a +1-212-713 3218

multi-year secular story that other areas of the economy are experiencing. If anything,

Dan Silverstein

this group faces an overhang from the uncertainty of the potential labor market

disruption that technological innovation might bring. The most likely case is that daniel.silverstein@ubs.com

spending is going to remain bifurcated and episodic. This is going to keep the market +1-212-713 2459

glued to each micro and short-term data point. As a result, the lack of an underlying

Mathew Rothway

driving force probably makes many of these stocks trading vehicles. Still, our top ideas

include Target, Home Depot, Lowe's, AutoZone, Wayfair, Dick's Sporting Goods, and mathew.rothway@ubs.com

BJ's. +1-212-713 5000

Sachin Verma

During the first half of the year, Hardlines, Broadlines, and Food Retailers dealt with a Associate Analyst

host of volatile variables, including the changing tariff landscape, geopolitical sachin.verma@ubs.com

uncertainty, rising inflation from higher fuel costs, and an influx of tax refunds. Net-net, +1-212-713 3492

the result was relatively neutral on a sector-wide basis (-0.7% median YTD return in our Joshua Bluestine