It's time for Macke's Markup, where Jeff Macke, our Lone Wolf, takes a look at the best names in the retail space. Today Jeff takes a look at high end retail using a special occasion to guide his trade.
Today is Jeff’s 9th wedding anniversary and he’s off shopping.
Jeff Macke likes Saks (SKS) because they give great service. He went in clueless and came out with a great anniversary present for his wife. Jeff feels Saks has a great business model because they appeal to mid-level as well as upper-level consumers. He also sees great growth with a profit in the 4Q.
Guy Adami adds that Saks is run very well.
Jeff Macke says in contrast avoid Tiffany (TIF). The stock has snob appeal, they haven’t had strong sales in Asia and in a turn down, the company is vulnerable.
Jeff’s bottom line is build a position in Saks and walk away from Tiffany.