Interesting Stock: Saks Stores (NYSE: SKS)
I’ve been watching this stock for quite some time and finally pulled the trigger today and bought it. I’ve always been on the edge about this stock because of the bad retail environment but the better-than-expected consumer confidence index report today pushed me over the edge.
I think with the upcoming Holiday season, the improving consumer index number, and just the improving economy in general should help bring customers back to Saks Stores (NYSE: SKS).
I also think their management team has done a terrific job of dealing with the horrible retail environment in the past year. Their management team has truly impressed me by keeping their costs down, adjusting their inventory as needed, and just having enough foresight to weather this economic storm.
The trading pattern on SKS also looked pretty good today. It closed around the highs of the day ($6.41) and has been trading higher for the past week so even in the short-intermediate term, this stock looks pretty strong.
As always, do your own research!
