Discounting The Future
Stocks, it is said, discount the
future, and the nice retailers have certainly proved the point in this market.
Earlier this week, we had a spate of
robust same-store sales reports from retailers. Then on Friday, the Commerce
Department said retail spending rose a stronger-than-expected 0.8%. Meanwhile,
the preliminary May reading of the consumer sentiment index rose to 92.6 from
88.4 in April.
The leading retail stocks, however,
did wait for the statistics. Look these great moves in Charlotte Russe
(
CHIC |
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PowerRating),
Genesco
(
GCO |
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PowerRating), Hot Topic
(
HOTT |
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(
ANF |
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PowerRating).
A possible base-builder:
