U.S. Retail High ROE Growth Engines

PDD Holdings

Market Cap: US$144.4b

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

Ross Stores

Market Cap: US$45.9b

Operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brands in the United States.

Ulta Beauty

Market Cap: US$17.4b

Operates as a specialty beauty retailer in the United States.

DICK'S Sporting Goods

Market Cap: US$15.0b

Operates as an omni-channel sporting goods retailer primarily in the United States.

Gap

Market Cap: US$7.9b

Operates as an apparel retail company.

Dillard's

Market Cap: US$5.3b

Operates retail department stores in the southeastern, southwestern, and midwestern areas of the United States.

MINISO Group Holding

Market Cap: US$5.2b

An investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, rest of Asia, the Americas, Europe, Indonesia, and internationally.

Abercrombie & Fitch

Market Cap: US$3.5b

Through its subsidiaries, operates as an omnichannel retailer in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

Buckle

Market Cap: US$1.8b

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.

GigaCloud Technology

Market Cap: US$533.7m

Provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally.

Sunstock

Market Cap: US$572.8k

Sunstock, Inc. buys, sells, and distributes precious metals.