Too Much Negativity in Retail Stocks
I think the negativity in retail is overdone. Below are some bullish signs that retail stocks are about to take off.
"Because everyone is expecting a weak Christmas, the market is in for a surprise because I don't think American consumers are going to cut back on spending," said Ted Parrish, a principal at Henssler Asset Management (Source: Reuters)
- Gamestop (GME) is starting to move their higher priced XBOX 360 bundles
- BestBuy (BBY) announced on Friday that they would add 27,000 jobs for the holidays
- Sears Holdings (SHLD) announced it will buy back $500 million worth of stock
- Chairman of American Eagle Outfitters (AEOS) bought $21 million worth of stock on the open market
"Because everyone is expecting a weak Christmas, the market is in for a surprise because I don't think American consumers are going to cut back on spending," said Ted Parrish, a principal at Henssler Asset Management (Source: Reuters)
posted by Big Ben at Saturday, October 15, 2005
3 Comments:
Starbucks always sees strong same-store sales, especially because of the pumpkin spice latte in the winter. It's my favorite Starbucks item. Check out my blog at coffeeandstockblog.blogspot.com soon.
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