Buy Stocks That Can't Be 'Amazon'd,' Jefferies' Konik Says

Investors who are scared that a company may one day face competition from Amazon.com, Inc. AMZN should avoid investing in the stock and instead buy companies that won't be "Amazon'd," according to Jefferies retail analyst Randy Konik.

Among the small handful of companies that can't be "Amazon'd" include Nike Inc NKE, Konik explained as a guest on CNBC's "Squawk Box" segment. There are only three major companies in the space, including adidas AG (ADR) ADDYY and one of the most disliked stocks in the Street these days — Under Armour Inc UAA.

Meanwhile, Nike recently teamed up with Amazon to sell its products online.

Retail Isn't Dead

Another important consideration retail investors should keep in mind is that consumers are still shopping and Amazon is merely offering a different way to sell goods, Simeon Siegel, Nomura analyst said during CNBC's "Squawk on the Street" segment. Related Links: 'Amazon Acquisition Event Risk' And The Food Service Industry Nike's US Business 'Disturbing': One Analyst Remains Cautious Despite Earnings Beat, Stock Run

Another retailer that is safe from Amazon is high-end jewelry seller Tiffany & Co. TIF, the analyst added. After all, the majority of consumers won't like the idea of buying a $20,000 piece of jewelry online.

A few years ago, if consumers weren't going to the mall or department stores, they simply wouldn't buy products, the analyst explained. But Amazon's online platform has come in and is "plugging the department store gap."

In fact, Amazon's rapid expansion into selling nearly every aspect of fashion from shoes to handbags also makes it the first company to succeed in the "full-price" category in a while.