Hedgeye Retail analyst Jeremy McLean delivered a stark analysis of the Retail sector's immediate future this morning on The Macro Show.
"We're far from a bottom," he explains, suggesting a potential six- to nine-month period of challenging data ahead.
"The savings rate is going down, consumers are seeing incremental pressure and we’re still at high levels of consumption in retail sales growth."
McLean expects significant downward adjustments in retail stocks, driven by unrealistic earnings growth and a shifting rate environment. For investors looking to stay ahead in the retail game, this is a must-watch.