Retail stocks have taken off in December and many are anxious to see if the trend will continue in the new year. Dana Telsey, CEO of Telsey Advisory Group, shared her retail picks for 2024 Wednesday on CNBC's "Squawk On The Street."
Potential 2024 Winners: Telsey told CNBC she's looking for companies focused on innovation and offering value in 2024.
Telsey also flagged Bath and Body Works, Inc. (NYSE:BBWI) as a company “poised for growth” in 2024. She highlighted the company’s loyalty program, which has 41 million members eager to sample the company’s new offerings and categories, she said.
“Margin recovery should be the game plan for 2024 after what happened in 2023,” she added.
Telsey noted that Estee Lauder is expected to unveil new product innovations in the second half of 2024, which could help turn things around late next year, she said.
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Instead, Telsey sees more upside opportunity in the luxury goods sector.
"Taking advantage of the weakness in companies like LVMH is an opportunity given the strength they have across so many different categories,” she said.
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