Weinswig, who’s one of the most followed analysts on the Street, says she thinks some department stores will likely report stronger-than-expected results.
She tells us, “Since November we’ve seen almost a bottoming in retail. December was better than November, then January was better than December and February should be better yet. It seems that things have stabilized, somewhat.”
As a result one stock to watch is Nordstrom . “While their sales haven’t been phenomenal their sales have outperformed the rest of the group.”
She also says JC Penney looks poised to perform well for the rest of 2009 because they could benefit from so many other stores closing in the malls where they’re anchored.
And it's worth noting Weinswig has weather on her side. Mild temperatures and new spring merchandise in stores may have helped sales a bit in February. It was the warmest February since 2005, according to weather tracking firm Planalytics
While February is usually not a key month for retail analysis given fewer days and its place between the post-holiday and early spring shopping periods, this year the month could show how willing shoppers are to spend even without the motivation of gift-giving.
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