Despite dismal December chain store sales numbers, Kimberly Greenberger, retail analyst at Citi, told CNBC's investors to prepare their portfolios accordingly as retail stocks will make a turnaround in 2009.
“We do think that as we move through 2009, investors will want to increase their exposure to consumer discretionary and retail in their portfolio,” said Greenberger. (Watch the video clip for the full interview)
Urban Outfitters .
“The three [stocks] are our favorites…We’re starting out the year rather selective, we’ll look for opportunities over the next 6 months to get a little more constructive, but we’re staying with the stories that we think have relatively much better fundamentals and those three are our top picks.”
Citigroup Global Markets or an affiliate has received compensation for products and services other than investment banking services from Urban Outfitters in the past 12 months.