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Burt Flickinger Sees ‘Extended Retail Recession'- Likes Archer Daniels (ADM)

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Burt Flickinger Sees ‘Extended Retail Recession'- Likes Archer Daniels ADM

Burt Flickinger, managing director of Strategic Resource Group, a widely respected retail analyst, talked about Best Buy Co.'s (NYSE: BBY) second-quarter profit reported today and the outlook for U.S. retailers with Betty Liu on Bloomberg Television's "In the Loop.

Best Buy, the world's largest consumer-electronics retailer, said earnings rose 61 percent to $254 million, or 60 cents a share. Flickinger is bearish on retailers and thinks that Best Buy’s earnings aren’t indicative of retailers in general. He thinks that Best Buy is doing well because of the demise of competitor Circuit City and others.

In Jan, 08 Flickinger’s company, Strategic Resource Group, predicted a 1000 day retail recession. They are now extending that to 1500 days. Flickinger said, “consumers are shopping for need not for want.” He sees tremendous food inflation due to the rise in food commodities like sugar and coffee, next year that will exacerbate the situation for apparel and accessory retailers. So what stocks does he like? He likes Archer Daniels (NYSE: ADM) and other food producers.

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