It's the first day of May and love is in the air. That's right it's wedding season!
And big fat fabulous weddings are big business. The wedding industry generates $70 billion annually. That's more than the motion picture industry. Two million couples take the plunge every year in this country and the majority of them say “I do” over the next four months.
But this year some of these lovebirds are finding, well.. love hurts! 60 percent of couples recently surveyed say the bad economy is crashing their wedding causing them to cut back on things such as the band or cake.
And at the risk of creating a “Bridezilla” fewer guests are willing to splurge on the happy couple. That could leave companies like Tiffany's feeling blue this season.
So let's raise a glass and toast the trades that could make you and yours some fast money.
The trades are Costco and Wal-Mart exclaims Jeff Macke. These guys both came up with bridal registries that are starting to get traction. I think you could see incremental upticks.
And steer clear of the wedding regulars, he adds, such as Tiffany’s as well as Williams-Sonoma .
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Trader disclosure: On May 1, 2008, 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 (MSFT), (DIS), (INTC); Adami Owns (AGU), (NUE), (BTU), (C), (GS), (INTC), (MSFT); Najarian Owns (AAPL), (TSO), (XLF), (YHOO); Najarian Owns (C) Calls, (CHK) Calls, (MSFT) Calls, (WLT) Calls, (POT) Calls; Finerman Owns (CHK), (GS), (HD); Finerman's Firm Owns (MSFT), (NYX), (SUN), (TSO), (TYC), (TEL), (VLO), (CMVT); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns (C) And (C) Leaps, Finerman Owns (C); Finerman's Firm Is Short Pounds