Looking for Good Buys in Retail Stocks
Two retail analysts, Kimberly Greenberger from Citigroup and Christine Chen from Needham, discussed the outlook for retail stocks on “Power Lunch.”
“Consumers are consolidating mall trips but are spending more time and money while they are there,” said Greenberger. “If tailors cannot capitalize on the consumer traffic in their stores, then they’re losing business.”
Chen said that housing prices, especially in the West and Southeast, could be having a negative impact on lower-income consumers.
Greenberger recommended stocks such as TJX, Pacific Sun, Urban Outfitters and Coach while Chen also suggested Urban Outfitters and Guess.
Stocks that both didn't like included Ann Taylor, Abercrombie & Fitch and Gap.