Global Retail Undervalued over 20% based on DCF

Amazon.com

Market Cap: US$2.6t

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$224.0b

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

MercadoLibre

Market Cap: US$91.9b

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

Sea

Market Cap: US$63.8b

Through its subsidiaries, operates as a technology company in Southeast Asia, Latin America, the rest of Asia, and internationally.

eBay

Market Cap: US$50.9b

Operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally.

Ulta Beauty

Market Cap: US$19.5b

Operates as a specialty beauty retailer in the United States, Mexico, and Kuwait.

Genuine Parts

Market Cap: US$17.7b

Distributes automotive and industrial replacement parts.

Chow Tai Fook Jewellery Group

Market Cap: HK$114.3b

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

Aritzia

Market Cap: CA$16.1b

Designs, develops, and sells apparels and accessories for women in the United States and Canada.

Allegro.eu

Market Cap: zł40.2b

Operates a commerce platform for consumers in Poland, Czech Republic, Slovakia, Hungary, and internationally.

D'Ieteren Group

Market Cap: €9.0b

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

Avolta

Market Cap: CHF 7.2b

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

Empresas Copec

Market Cap: CL$7.9t

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

Zhejiang China Commodities City Group

Market Cap: CN¥54.9b

Through its subsidiaries, develops, manages, and operates an online trading platform service in China.

El Puerto de Liverpool. de

Market Cap: Mex$135.6b

Operates a chain of department stores primarily in Mexico.

Pool

Market Cap: US$7.6b

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

Etsy

Market Cap: US$7.4b

Operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, and internationally.

Lithia Motors

Market Cap: US$7.1b

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

Gap

Market Cap: US$6.9b

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

Victoria's Secret

Market Cap: US$6.2b

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

Global-E Online

Market Cap: US$6.2b

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

Ultrapar Participações

Market Cap: R$31.4b

Through its subsidiaries, operates in the energy, mobility, and logistics infrastructure sectors in Brazil, the rest of Europe, the United States, Canada, other Latin American countries, Oceania, and internationally.

Macy's

Market Cap: US$6.1b

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

JB Hi-Fi

Market Cap: AU$8.6b

JB Hi-Fi Limited retails home consumer products.

Urban Outfitters

Market Cap: US$5.8b

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

Pattern Group

Market Cap: US$5.0b

Operates as an e-commerce accelerator that combines proprietary technology and on-demand expertise to support consumer brands operating across e-commerce marketplaces in the United States and internationally.

Pepkor Holdings

Market Cap: R78.0b

Operates as a retailer in Angola, Botswana, Brazil, Eswatini, Lesotho, Malawi, Mozambique, Namibia, South Africa, and Zambia.

ABC-MartInc

Market Cap: JP¥724.2b

Engages in the retailing of shoes, clothing, and general merchandise products for men, women, and kids in Japan.

SHIMAMURA

Market Cap: JP¥717.2b

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

Bath & Body Works

Market Cap: US$4.2b

Operates as a specialty retailer of personal care and home fragrance products.

Harvey Norman Holdings

Market Cap: AU$5.9b

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

Ollie's Bargain Outlet Holdings

Market Cap: US$4.1b

Operates as a retailer of closeout merchandise and excess inventory in the United States.

Fielmann Group

Market Cap: €3.6b

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

Cosan

Market Cap: R$14.7b

Engages in the fuel distribution business.

Mr Price Group

Market Cap: R45.3b

Provides fashion-value merchandise in South Africa and internationally.

Sonic Automotive

Market Cap: US$2.8b

Operates as an automotive retailer in the United States.