U.S. Retail Undervalued based on future growth

JD.com

Market Cap: US$43.2b

Operates as a supply chain-based technology and service provider in the People’s Republic of China and Europe.

Lithia Motors

Market Cap: US$6.0b

Operates as an automotive retailer in the United States, the United Kingdom, and Canada.

MINISO Group Holding

Market Cap: US$4.3b

An investment holding company, engages in the retail and wholesale of design-led lifestyle and pop toy products in Mainland China, the rest of Asia, North and Latin America, Europe, and internationally.

Victoria's Secret

Market Cap: US$3.7b

Operates as a specialty retailer of women’s intimate, and other apparel and beauty products worldwide.

American Eagle Outfitters

Market Cap: US$2.6b

Operates as a multi-brand specialty retailer in the United States and internationally.

Sally Beauty Holdings

Market Cap: US$1.1b

Operates as a specialty retailer and distributor of professional beauty supplies.

Upbound Group

Market Cap: US$998.6m

A technology and data-driven company, provides financial solutions in the United States, Puerto Rico, and Mexico.

ATRenew

Market Cap: US$954.8m

ATRenew Inc., together with its subsidiaries, sell pre-owned consumer electronics through its online platforms and other channels in the People’s Republic of China.

Betterware de MéxicoP.I. de

Market Cap: US$597.4m

Operates as a direct-to-consumer selling company in the United States and Mexico.

Haverty Furniture Companies

Market Cap: US$338.5m

Operates as a specialty retailer of residential furniture and accessories in the United States.

J.Jill

Market Cap: US$179.2m

Operates as an omnichannel retailer for women’s apparel in the United States.

LightInTheBox Holding

Market Cap: US$46.1m

An online retail company, provides various lifestyle products directly to consumers in Europe, North America, and internationally.