A Few Retail Names Still Going Strong: McKeever

After strong sales in August, retailers face an uphill battle to keep that momentum going, Patrick McKeever of MKM Partners said Tuesday on CNBC.

On “Fast Money,” he noted that retail stocks were up 20 percent year to date and linked recent weakness to concerns about September same-store sales comparisons.

Also, “there’s some anxiety about the election,” he said.

But there were strong points in retail.

McKeever’s long positions TJX Companies and Ross saw comps grow “north of 6 percent,” he said, and DSW also saw a strong September.

Family Dollar, which reports earnings on Wednesday, appeared strong, even as its addition of food items to their stores puts pressure on margins.

The flip side, McKeever added, was that the move also increased foot traffic to stores, even as the store held the lowest operating margins in the space.

“I think they can do things that they create from adding more consumables,” he said.

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