Consumers are not going to make purchases unless the product is really unique and exciting, said Eric Beder, retail analyst at Brean Murray, Carret & Co.
“We don’t expect a pick up in consumer spending until the fourth quarter or early 2010,” Beder told CNBC.
Although some companies have benefited through cost-cutting measures this quarter, Beder said retailers cannot continue to rely on the strategy to improve their results.
However, Beder recommended the following retailers, saying they are well positioned.
True Religion Apparel
Beder does not own any shares of the companies mentioned above.