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Hedge fund Prentice Capital bullish on stocks as May retail spending jumps 0.3 per cent

Retail sales gained 0.3 per cent in May and while that was below the 0.6 per cent rise expected on Wall Street the data did little to alter views that the economy is regaining steam.

Michael Zimmerman, chief executive of hedge fund Prentice Capital, has recently announced a string of investments in online retail stocks including Gaiam, dELiA*s and PacSun, as revealed through mandatory SEC disclosures of substantial shareholdings.
Zimmerman believes retailers integrating mobile devices into their online strategy have the strongest opportunity for growth. Zimmerman's view is that online shopping will continue to take share, the emergence of tablets and bigger phones is accelerating the online vs. bricks and mortar struggle.
These positive economic numbers support Zimmerman’s bullish position on retail equities, opinion that is confirmed by booming global internet sales figures and confidence in mcommerce. Mobile phones and tablets were also found to be generating even more traffic, accounting for almost a quarter of hits in June.
The value of mobile commerce transactions conducted via mobile devices is expected to exceed USD3.2 trillion by 2017, rising from USD1.5 trillion this year, according to a report from Juniper Research.
The conference board's consumer sentiment index climbed to 68.1 for April, surpassing the highest Bloomberg economist survey estimations, further buttressing the economic climate.

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