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Guru Cohen is one of the most successful traders in the world, and as far as investments go, he has been increasing his clothing retailer positions in the last year, an interesting fact since a number of competing retailers like J.C. Penney, Sears, Kmart and others are forecast to close hundreds of stores this year. Further, the popular clothing retailer, Express Inc. is crawling this current quarter as consumers cling to their money. According to Reuters, Express Inc.’s CEO Michael Weiss told analysts earlier this month, "Consumers appeared cautious due to the macroeconomic environment and uncertainty around budget cuts, and also the impact of higher payroll taxes." A report from the National Retail Federation also confirms slowing growth in the sector, showing that retail industry sales are projected to grow only 3.4% in 2013, less than the preliminary 4.2% in 2012.
After significantly bumping up his Ann Taylor (ANN) position in early March, Cohen is now boosting the Texas-based Stage Stores, Inc. (SSI), an operator of 813 department stores in 40 states. Stage Stores, Inc. includes Bealls, Goody's, Palais Royal, Peebles and Stage. The company has a market cap of $825.79 million. Its P/E ratio is 21.6, and the P/S is 0.5079. Current share price for SSI is $25.89, up 4% year to date.
His SSI holding history:
Here’s a look at Cohen’s holdings in Ann Taylor Stores (ANN), the “aspirational luxury brand” for working women.
Steven “Stevie” Cohen has a reputation for being a highly intuitive hedge fund investor. As of March 27, 2012, SAC Capital’s portfolio shows 1585 stocks, with 429 new stocks, at a total value of $20.3 billion. SAC Capital’s quarter over quarter turnover is 42%.
Cohen’s top buys, sells and holdings:
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