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Don’t waste the stock market crash! I’d buy these 2 FTSE 100 shares in an ISA today

The FTSE 100’s recent stock market crash has caused significant losses for many investors. However, it’s not the first time that the index has experienced a bear market, with it having done so on a handful of other occasions since its inception in 1984.

Following each of those bear markets, the FTSE 100 has gone on to deliver a successful recovery. As such, now could be the right time to buy a range of large-cap shares following their recent declines.

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Here are two prime examples of such companies that could be worth buying in a diversified Stocks and Shares ISA today.

FTSE 100 retailer Next

The recent trading update from FTSE 100 retailer Next (LSE: NXT) highlighted the impact of coronavirus on its financial performance. Its sales declined by 38% in the three months to 25 April, with its physical stores and online operations closed during part of that period.

However, Next also stated in its update that it is in a strong financial position to overcome present challenges. Moreover, it has recently reopened its online operations, albeit on a modest scale, and will seek to increase the number of deliveries it is capable of fulfilling over the coming months. It is also expanding its business with a stronger presence in the beauty market.

This could mean that the FTSE 100 company’s financial performance gradually improves. It may also enable Next to strengthen its competitive position relative to sector peers who may not have the financial strength to cope with a sustained period of reduced sales.

With the Next share price having declined by over 30% since the start of the year, it appears to offer a wide margin of safety. Although a quick turnaround may not be possible, the FTSE 100 company’s strong market position and sound strategy could lead to it delivering high returns over the long run.

British American Tobacco

After a long period of being relatively unpopular among investors, tobacco stocks such as British American Tobacco (LSE: BATS) may become increasingly in-demand among risk-averse investors.

The company recently reported that it continues to expect to post a high-single-digit rise in its bottom line in the current year. Compared to many of its FTSE 100 index peers, this may represent a highly successful result that leads to a rise in the stock’s price in the coming months.

Of course, demand for cigarettes is likely to fall over the long term. British American Tobacco has repeatedly experienced declines in its cigarette volumes, although much of this has been offset by price rises that may persist. This could lead to a relatively robust financial performance from the business that provides it with the capital required to develop next-generation products that ultimately replace tobacco products.

With the British American Tobacco share price down 10% since the start of the year, it could offer good value for money due in part to its defensive profile and strong earnings growth potential.

There’s a ‘double agent’ hiding in the FTSE… we recommend you buy it!

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Peter Stephens owns shares of British American Tobacco. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.