The latest reading from the International Council of Shopping Centers (ICSC) is the strongest we've seen in nearly 15 years. Despite dismal weather in late March, the week leading up to Easter showed positive data that indicates shoppers are out there willing to spend money at retail chain stores.
We're bullish on retail in general despite the risk of peak margins and increase capital spending; top-line growth is what's in play right now. We like Nike (NKE), Urban Outfitters (URBN) and Walmart (WMT) as long ideas. The names to look for right now are companies that have higher sales and aren't blowing through a ton of cash.