Global Retail Undervalued over 20% based on DCF

Amazon.com

Market Cap: US$2.3t

Engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally.

Alibaba Group Holding

Market Cap: US$272.8b

Through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally.

PDD Holdings

Market Cap: US$143.2b

A multinational commerce group that owns and operates a portfolio of businesses.

MercadoLibre

Market Cap: US$87.0b

Operates online commerce platforms in Brazil, Mexico, Argentina, and internationally.

Carvana

Market Cap: US$69.3b

Operates an e-commerce platform for buying and selling used cars.

Coupang

Market Cap: US$34.6b

Owns and operates retail business through its mobile applications and internet websites in South Korea and internationally.

Williams-Sonoma

Market Cap: US$21.4b

Operates as an omni-channel specialty retailer of various products for home the United States and internationally.

Genuine Parts

Market Cap: US$14.4b

Distributes automotive and industrial replacement parts.

Chow Tai Fook Jewellery Group

Market Cap: HK$110.6b

An investment holding company, manufactures and sells jewelry products in Mainland China, Hong Kong, Macau, and internationally.

D'Ieteren Group

Market Cap: €8.6b

Operates as an investment company in Belgium, France, rest of Europe, and internationally.

Empresas Copec

Market Cap: CL$8.5t

Operates in the natural resources and energy sectors in Chile and internationally.

Gap

Market Cap: US$9.0b

Operates as an apparel retail company in the United States, Canada, Japan, Taiwan, and internationally.

Avolta

Market Cap: CHF 7.0b

Operates as a travel retail company in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

El Puerto de Liverpool. de

Market Cap: Mex$148.4b

Operates a chain of department stores primarily in Mexico.

Pool

Market Cap: US$7.4b

Distributes swimming pool supplies, equipment, related leisure, irrigation, and landscape maintenance products in the United States and internationally.

CarMax

Market Cap: US$5.8b

Through its subsidiaries, operates as a retailer of used vehicles and related products in the United States.

Urban Outfitters

Market Cap: US$5.5b

Offers lifestyle products and services in the United States and internationally.

JB Hi-Fi

Market Cap: AU$7.9b

JB Hi-Fi Limited retails home consumer products.

Global-E Online

Market Cap: US$5.2b

Provides direct-to-consumer cross-border e-commerce platform in Israel, the United Kingdom, the United States, and internationally.

Macy's

Market Cap: US$4.7b

An omni-channel retail organization, operates stores, websites, and mobile applications in the United States.

Eagers Automotive

Market Cap: AU$6.7b

Owns and operates motor vehicle dealerships in Australia and New Zealand.

SHIMAMURA

Market Cap: JP¥685.8b

Engages in the sale of clothing and fashion related products in Japan and Taiwan.

Fielmann Group

Market Cap: €3.6b

Engages in vision care and audiology business in Germany, Switzerland, Austria, Spain, North America, and internationally.

Harvey Norman Holdings

Market Cap: AU$5.9b

Engages in the integrated retail, franchise, property, and digital system businesses.

Group 1 Automotive

Market Cap: US$3.9b

Through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom.

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$2.8b

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

Buckle

Market Cap: US$2.5b

Operates as a retailer of casual apparel, footwear, and accessories for men, women, and kids under the Buckle and Buckle Youth brands in the United States.

Inter Cars

Market Cap: zł9.3b

Engages in the import and distribution of spare parts for passenger cars and commercial vehicles in Poland, Romania, and internationally.

Warby Parker

Market Cap: US$2.5b

Sells eyewear products through its retail and e-commerce platform in the United States and Canada.

B&M European Value Retail

Market Cap: UK£1.8b

B&M European Value Retail plc retails general merchandise products and groceries.

Mr Price Group

Market Cap: R40.1b

Provides fashion-value merchandise in South Africa and internationally.

Yamada Holdings

Market Cap: JP¥360.0b

Operates in the consumer electronics retailing activities in Japan and internationally.

Dunelm Group

Market Cap: UK£1.6b

Engages in the retail of homewares in the United Kingdom.

Super Retail Group

Market Cap: AU$2.9b

Engages in the retail of auto, sports, and outdoor leisure products in Australia and New Zealand.

Paltac

Market Cap: JP¥296.6b

Engages in the wholesale of cosmetics, daily necessities, and over-the-counter drugs in Japan.