Shipping costs are falling quickly, and Oppenheimer thinks some retailers can greatly benefit from it.
The World Container Index, which tracks the cost of a 40-foot container on eight major routes through both short- and long-term contracts, was down 8% this week to $3,688.75 per container. That marks the 32nd straight weekly decrease, with prices now down about 64% off the high posted in September 2021.
These stocks are rated outperform by Oppenheimer. One name that made the list is Nike . The apparel giant has in the past attributed troubles to the surging dollar and oversupply. The company said in late September that it would look to promotions as inventory grew 44% in the first quarter compared to the same period a year ago. Its stock is down about 47% year to date.
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