New York, NY -- (ReleaseWire) -- 05/23/2013 --The conference board's sentiment index climbed to 68.1 for April, surpassing the highest Bloomberg economist survey estimations. House values increased 9.3% in February from the identical time frame a year ago - the largest advance since 2006, further buttressing the economic climate notwithstanding increased taxes and weakened employment very likely making many consumers a bit more wary of spending.
U.S. stock futures were unchanged during the early hours prior to the reports, following the Standard & Poor’s 500 Index advanced to a record high, as market players considered corporate income and awaited the key research.
Michael Zimmerman, CEO of Prentice Capital Management, LP, feels today's shoppers are stretched thin, having ridden the peak of home refinance plus housing benefits during the last 12-24 months, these are typically taking a harsh view of government economic policy and feeling the crunch of increased costs, taxation and lowered confidence in the job marketplace.
Jacques Porta, who helps manage approximately $776 million at Ofi Gestion Privee in Paris stated “The economic data we’ve seen recently has not been consistently good enough to buy and not weak enough to sell.”
Regardless of this cautious perspective, Zimmerman has been enlarging his equity holdings in retailers Coldwater Creek, Pacific Sunwear of California, dELiA*s and Gaiam, according to Securities and Exchange Commission filings. Zimmerman believes retailers with effective brands who also combine mcommerce into their internet strategy produce the most robust opportunity for growth by targeting careful consumers looking for ways to maintain lifestyle choices at lower cost.
Zimmerman’s view is that internet shopping will consistently take share, the emergence of tablets and much bigger smartphone as the most current frontier of business is quickening the online vs. bricks and mortar struggle, and introducing an opptotunity for shareholders with brands which are profiting from these kinds of shifts.