Notes from ICR conference

At ICR, there were companies like Limited, LULU, Express, DSW, Zumiez and others of notably seeing continuing strong trends. We found it interesting how few were going from positive to outright negative. Then again, there were a number of companies where things have been negative and new managements and strategies were discussed. A few names that struck us were Pac Sun, Hot Topic, LIZ and a few others where changes are in process and management focus could make a difference. Urban made a jolting change right before the meeting and will be interesting to watch next steps.

A real lack of clearly identifiable changes seemed to be the case, but some management follow up might be very timely as some of these strategies and management changes as well as others of companies not at show may be of interest. Continue to hear JCP Sears and department stores and transitions, situations of both opportunity and risk. If some of the management changes can revitalize downsized companies and others can rightsize operations, we are in a unique retail environment of opportunity. The high end shopper and European markets may see some headwinds and responses will take more management competency than just reliance on macro factors.