Believe it or not, there are many publicly traded shoe companies. And these stocks were among the hardest hit shares since July on concerns the consumer is in a crunch. For example, Collective Brands (PSS) ,owner of Payless is down 31% over the last 3 months and Brown Shoe Company (BWS) is down 13%. Should you go shopping?
CNBC Retail Reporter Margaret Brennan joins the conversation after recently speaking with the Payless CEO. Brennan says the company pegged recent weakness on a few things.
1) Weather. The rainy summer season left the company with a lot of open toe shoes.
2) Crocs. Increased interest in the trendy footwear started eating into summer business.
Karen Finerman tells the panel she likes Payless because she feels they have a good management team. In the long term, she sees upside in PSS as well as BWS.
On a related note, Finerman also recommends buying Limited Brands (LTD) for Victoria’s Secret.
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Trader disclosure: On Sept. 19, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (SWY); Najarian Is Short (ETFC); Najarian Owns (GS) Options; Finerman's Firm Owns (BWS), (COP), (GCO), (NMX), (LTD); Finerman's Firm Owns S&P 500 Puts And Calls; Finerman's Firm Owns Russell 2000 Puts