Consumer

Specialty Retailing

Our research focus is on small- and mid-cap growth retailers. We provide in-depth research coverage beyond what is typically provided by Wall Street, and we have special expertise in the automotive, sporting goods, and consumer electronics segments. We seek retailers with competitive advantage as to the major elements that drive store choice, including:

• Merchandise assortment and presentation
• Location
• Store format
• Shopping environment
• Customer service
• Day-to-day execution

Retailers must provide a good value proposition for consumers. We look for strong management with a well-defined business strategy and the ability to execute those plans.

Managing Director:
N. Richard Nelson, Jr.: Bio
Associates:
Joe Edelstein: Bio

Companies

Asbury Automotive GroupAutoNation, Inc.Big 5 Sporting Goods Corp.
Cabela's Inc.CarMax, Inc.Conn's, Inc.
Dick's Sporting Goods, Inc.Group 1 Automotive, Inc.hhgregg, Inc.
Hibbett Sports, Inc.KAR Auction ServicesLithia Motors, Inc.
Lumber Liquidators, Inc.Monro Muffler Brake, Inc.Penske Automotive Group, Inc.
Sonic Automotive, Inc.Titan Machinery Inc.
Specialty Retailing: Weekly Valuation (02/06/2012)
Auto Unit Sales & SAAR January 2012 (02/02/2012)
Specialty Retailing: Weekly Valuation (01/30/2012)
Specialty Retailing: Weekly Valuation (01/23/2012)
Specialty Retailing: Weekly Valuation (01/17/2012)
Specialty Retailing: Weekly Valuation (01/09/2012)
Preliminary Auto Unit Sales & SAAR December 2011 (01/05/2012)
Final Auto Unit Sales & SAAR December 2011 (01/05/2012)
Specialty Retailing: Weekly Valuation (01/03/2012)
Specialty Retailing: Weekly Valuation (12/19/2011)
Specialty Retailing: Weekly Valuation (12/05/2011)
Auto Unit Sales & SAAR November 2011 (12/02/2011)
Specialty Retailing: Weekly Valuation (11/28/2011)
Specialty Retailing: Weekly Valuation (11/21/2011)
Specialty Retailing: Weekly Valuation (11/14/2011)
Specialty Retailing: Weekly Valuation (11/07/2011)
Automotive Retailing 3Q11 Rankings (11/04/2011)
Auto Unit Sales & SAAR October 2011 (11/02/2011)
Specialty Retailing: Weekly Valuation (10/31/2011)
Specialty Retailing: Weekly Valuation (10/24/2011)
Specialty Retailing: Weekly Valuation (10/17/2011)
Specialty Retailing: Weekly Valuation (10/10/2011)
Auto Unit Sales & SAAR September 2011 (10/04/2011)
CORRECTION: Auto Unit Sales & SAAR September 2011 (10/04/2011)
Specialty Retailing: Weekly Valuation (10/03/2011)
Specialty Retailing: Weekly Valuation (09/26/2011)
Specialty Retailing: Weekly Valuation (09/19/2011)
Factors Driving a Recovery in Auto Sales (09/16/2011)
Specialty Retailing: Weekly Valuation (09/12/2011)
Specialty Retailing: Weekly Valuation (09/06/2011)
Auto Unit Sales & SAAR August 2011 (09/02/2011)
Specialty Retailing: Weekly Valuation (08/29/2011)
Specialty Retailing: Weekly Valuation (08/23/2011)
Specialty Retailing: Weekly Valuation (08/15/2011)
Specialty Retailing: Weekly Valuation (08/08/2011)
Auto Unit Sales & SAAR July 2011 (08/03/2011)
Automotive Retailing 2Q11 Rankings (08/01/2011)
Specialty Retailing: Weekly Valuation (08/01/2011)
Specialty Retailing: Weekly Valuation (07/25/2011)
Weekly Valuation (07/18/2011)
Weekly Valuation (07/11/2011)
Auto Unit Sales & SAAR June 2011 (07/05/2011)
Weekly Valuation (07/05/2011)
Weekly Valuation (06/29/2011)
Weekly Valuation (06/20/2011)
Weekly Valuation (06/13/2011)
Weekly Valuation (06/06/2011)
Auto Unit Sales & SAAR May 2011 (06/02/2011)
Weekly Valuation (05/31/2011)
Automotive Retailing 1Q11 Rankings (05/17/2011)
Weekly Valuation (05/16/2011)
Updated: Auto Dealers and Japan: The Elephant in the Room (05/04/2011)
Weekly Valuation (05/03/2011)
Auto Unit Sales & SAAR April 2011 (05/03/2011)
Weekly Valuation (04/26/2011)
Weekly Valuation (04/19/2011)
Weekly Valuation (04/11/2011)
Auto Unit Sales & SAAR March 2011 (04/04/2011)
Weekly Valuation (04/04/2011)
Weekly Valuation (03/28/2011)
Weekly Valuation (03/21/2011)
Automotive Retailing Brand Mix & New Vehicle Revenue by State - 2010 (03/21/2011)
Weekly Valuation (03/17/2011)
Weekly Valuation (03/07/2011)
Revised: Automotive Retailing 4Q10 and 2010 Rankings (03/03/2011)
Auto Unit Sales & SAAR February-11 (03/02/2011)
Weekly Valuation (02/28/2011)
Automotive Retailing Investor Field Trip (02/17/2011)
Weekly Valuation (02/14/2011)
Weekly Valuation (02/08/2011)
Auto Unit Sales & SAAR January-11 (02/04/2011)
Auto Unit Sales & SAAR January-11 (02/02/2011)
Weekly Valuation (02/01/2011)
Weekly Valuation (01/24/2011)
Weekly Valuation (01/18/2011)
Weekly Valuation (01/10/2011)
Auto Unit Sales & SAAR December-10 (01/05/2011)
Weekly Valuation (01/03/2011)
Weekly Valuation (12/27/2010)
Weekly Valuation (12/20/2010)
Weekly Valuation (12/14/2010)
Weekly Valuation (12/06/2010)
Auto Unit Sales & SAAR November-10 (12/02/2010)
Weekly Valuation (11/29/2010)
Valuation Table (11/23/2010)
Weekly Valuation (11/15/2010)
Automotive Retailing 3Q10 Rankings (11/09/2010)
Weekly Valuation (11/09/2010)
Auto Unit Sales & SAAR October-10 (11/04/2010)
Weekly Valuation (11/01/2010)
Weekly Valuation (10/25/2010)
Weekly Valuation (10/18/2010)
Weekly Valuation (10/04/2010)
Auto Unit Sales & SAAR September-10 (10/03/2010)
Weekly Valuation (09/27/2010)
Weekly Valuation (09/20/2010)
Weekly Valuation (09/13/2010)
Weekly Valuation (09/07/2010)
Auto Unit Sales & SAAR August-10 (09/02/2010)
Weekly Valuation (09/01/2010)
Weekly Valuation (08/23/2010)
Weekly Valuation (08/16/2010)
Auto Retailer White Paper: Accounting Differences for Internal Prep Work (08/13/2010)
Weekly Valuation (08/09/2010)
Auto Unit Sales & SAAR July-10 (08/04/2010)
Automotive Retailing 2Q10 Rankings (08/03/2010)
Weekly Valuation (08/02/2010)
Weekly Valuation (07/26/2010)
Weekly Valuation (07/19/2010)
Specialty Retailing Weekly Valuation (07/12/2010)
Specialty Retailing Weekly Valuation (07/06/2010)
Auto Unit Sales & SAAR June-10 (07/02/2010)
Specialty Retailing Weekly Valuation (06/30/2010)
Specialty Retailing Weekly Valuation (06/21/2010)
Sporting Goods Retailing 2009 Rankings (06/16/2010)
Specialty Retailing Weekly Valuation (06/14/2010)
Specialty Retailing Weekly Valuation (06/07/2010)
Auto Unit Sales & SAAR May-10 (06/03/2010)
Specialty Retailing Weekly Valuation (06/01/2010)
Automotive Retailing 1Q10 Rankings (05/28/2010)
Specialty Retailing Weekly Valuation (05/17/2010)
Specialty Retailing Weekly Valuation (05/10/2010)
Specialty Retailing Weekly Valuation (05/03/2010)
Auto Unit Sales & SAAR - April 2010 (05/03/2010)
Specialty Retailing Weekly Valuation (04/26/2010)
Specialty Retailing Weekly Valuation (04/20/2010)
Specialty Retailing Weekly Valuation (04/12/2010)
Specialty Retailing Weekly Valuation (04/05/2010)
Auto Unit Sales & SAAR - March 2010 (04/04/2010)
Specialty Retailing Weekly Valuation (03/29/2010)
Specialty Retailing Weekly Valuation (03/22/2010)
Automotive Retailing Brand Mix & New Vehicle Revenue by State - 2009 (03/19/2010)
Specialty Retailing Weekly Valuation (03/15/2010)
Specialty Retailing Weekly Valuation (03/10/2010)
Takeaways From Auto Retail Field Trip Support Positive Thesis (03/08/2010)
Automotive Retailing 4Q09 and 2009 Rankings (03/05/2010)
Auto Unit Sales & SAAR - February 2010 (03/04/2010)
Specialty Retailing Weekly Valuation (02/22/2010)
Specialty Retailing Weekly Valuation (02/16/2010)
Specialty Retailing Weekly Valuation (02/08/2010)
Auto Unit Sales & SAAR - January 2010 (02/03/2010)
Analysis Shows Toyota Halt, Recall a Net Positive for Auto Dealers (02/01/2010)
Specialty Retailing Weekly Valuation (02/01/2010)
Automotive Retailing Investor Field Trip (01/27/2010)
Specialty Retailing Weekly Valuation (01/25/2010)
Specialty Retailing Weekly Valuation (01/19/2010)
Specialty Retailing Weekly Valuation (01/11/2010)
Auto Unit Sales & SAAR - December 2009 (01/06/2010)
Specialty Retailing Weekly Valuation (01/04/2010)