Women's Footwear Stocks Rebound—Buy These Now: Analyst
Women's footwear sales are on the rebound thanks to an improvement in the unemployment rate, said Brian Sozzi, equity research analyst at Wall Street Strategies.
“These [shoe] stocks have had a tremendous run, but there are a couple ways to play,” Sozzi told CNBC.
According to the NPD Group, sales of women’s shoes climbed 8 percent last year after posting a slight decline in 2009.
“This year, you’ll see a lot of impulse buying,” predicted Sozzi. “And for children, which actually underperformed last year, there will be a Justin Bieber effect with high tops.”
Polo Ralph Lauren
In addition, Sozzi has “buy” ratings on Nike, Coach, Polo Ralph Lauren and Timberland .
Scorecard—What He Said:
- Sozzi's Previous Appearance on CNBC (Feb. 1, 2011)
CNBC Data Pages:
No immediate information was available for Sozzi or his firm.