On The Macro Show this morning, Hedgeye Retail analyst Brian McGough gave a sweeping overview of the many earnings misses in the sector this week. In addition to highlighting recent developments at companies on Investing Ideas, like Hanesbrands (HBI), Tiffany (TIF) and Foot Locker (FL), Brian discussed other high-conviction names he covers. Among them, his short Kohl's (KSS) thesis following it's lackluster earnings release and the subsequent -10% tumble shares.
Additional topics of discussion included: why we’ve already seen more retail bankruptcies this year than in any full year in the last six; department store sales versus overall retail sales; and an update on e-commerce traffic.
Below is McGough's full presentation and the live Q&A with subscribers that followed.
Click here to access the associated slides.