U.S. 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.

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.

Macy's

Market Cap: US$6.1b

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

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.

Bath & Body Works

Market Cap: US$4.2b

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

Ollie's Bargain Outlet Holdings

Market Cap: US$4.1b

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

Sonic Automotive

Market Cap: US$2.8b

Operates as an automotive retailer in the United States.

National Vision Holdings

Market Cap: US$1.6b

Through its subsidiaries, operates as an optical retailer in the United States.

ARKO Petroleum

Market Cap: US$921.7m

Operates as a fuel distributor in North America.

Jumia Technologies

Market Cap: US$859.5m

Operates an e-commerce platform in West Africa, North Africa, East and South Africa, Europe, the United Arab Emirates, and internationally.

Shoe Station Group

Market Cap: US$410.0m

Operates as a family footwear retailer in the United States.

Weyco Group

Market Cap: US$355.0m

Designs, markets, and distributes footwear for men, women, and children in the United States, Canada, Australia, Asia, and South Africa.

Tokyo Lifestyle

Market Cap: US$8.7m

Engages in the retail and wholesale of beauty, health, sundry, and other products in Japan, China, Hong Kong, the United States, Canada, Thailand, and the United Kingdom.