The 2014 All-America Research Team: Retailing/Food & Drug Chains, No. 3: Karen Short

< The 2014 All-America Research TeamKaren ShortDeutsche Bank SecuritiesFirst-Place Appearances: 0

Total Appearances: 1

Analyst Debut: 2014Karen Short of Deutsche Bank Securities marks her debut appearance on this roster in third place, ushered in by hearty praise from money managers. “Karen’s work is a throwback to what equity research used to be: thoughtful and insightful analysis backed by unwavering opinions,” declares one backer. “Simply put, there is no fluff in her work.” In June, Short published a report about Amazon Fresh and its impact on U.S. supermarkets, concluding that the online grocery delivery service, and others like it, could significantly affect the sector. “I think we are at a tipping point where industry profitability, in general, is about to dramatically change,” she says. “Food retailers that dismiss the threat of online with the rationale that it’s hard to make that profitable are foolish.” In the note, Short also recommended that investors favor Cincinnati-based Kroger Co., arguing that that supermarket chain was best positioned to shield itself from the blow of online competition, in large part because many of its stores are located in markets that are less attractive than others to the online services. Kroger’s stock climbed 5.2 percent, to $51.55, through mid-September, while the sector was nearly flat.

RUNNER(S)-UP
Scott Mushkin
Wolfe Research

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