Stock Picker Gets a Kick Out of Shoes
Looking to get your portfolio back on its feet? Susquehanna Financial Group's John Shanley says stocks of certain shoe companies are some of the best buys on the market today.
"I think (consumers) are cutting back in certain categories...but..certain brands...are really starting to resonate very well, gaining market share in these tough economic times," he told CNBC.
So which stocks have a leg up?
"The real growth factor that we see in the marketplace over the next six to eight months is clearly going to be in the athletic footwear side of the business," he said. "We recently upgraded Nike to a "buy" recommendation; Nike, we think, really epitomizes the opportunity in the marketplace."
He also likes Wolverine Worldwide.
"Their Merrell brand is very powerful, not only here in the U.S., but also in the European market, and we think that's another major growth opportunity," he said.
Also on his list is VF Corporation.
"Basically, that stock has some really strong brands that are doing well in the marketplace, North Face and Vans," he said. "We're seeing a strong renewed consumer interest in skate shoes; Vans is the leader in that segment of the market."
Neither Shanley, his family, nor his firm owns shares of, or has any business relationship with, Nike, Wolverine Worldwide, or VF Corporation.