Retail sales in February fell more sharply than expected.

The Commerce Department said they were down 3% compared to the 0.5% loss economists expected. The SPDR S&P Retail ETF (XRT) closed 2% on Tuesday, reflecting the decline.

Winter seemed to be contributing, but with an economic reopening ahead, momentum and spring weather, retail could rebound, Todd Gordon, founder of, told CNBC’s “Trading Nation” on Tuesday.

“It was set by a high water mark from the previous reading,” he said of the unexpectedly sharp drop in February. “Everything I’ve read from economists says it doesn’t seem to last long. I think we’re still in a strong market.”

Noting that consumers are putting their health first, powered by Covid-19 – which the Centers for Disease Control and Prevention has found disproportionately affecting overweight and obese Americans – he brought up Garmin as a potential contender for a fitness game .

“I think there is this new standard for more health-conscious outdoor activities. They are well positioned. They make boats, they do outdoor recreation, they ride bikes,” he said of the wearable technology maker.

Gordon also highlighted the success of other companies using Garmin products.

“There are several boat companies,” he said. “Malibu and Thor [reported] Record profits, and those Garmin products are in the products. “

Gina Sanchez, founder and CEO of Chantico Global, said analysts had always expected higher retail growth in spring than in winter.

Upon reopening, Sanchez focused on stocks of companies that offer a variety of consumer services.

“There is currently still a great demand for services,” said Sanchez, also chief market strategist at Lido Advisors, in the same interview with “Trading Nation”.

“”[People] I just couldn’t go out. For example, gyms are reopening for the first time here in Los Angeles and across the country. During this reopening, we actually saw the expense in the product names. We should see some catching up in service names. “

In addition to the growth from the reopening, Gordon of saw more leeway for stocks.

“I think we are in an environment that goes beyond even reopening trade,” he said. “We are in the next tech bull market. I think Covid has accelerated the way. … I think people are underestimating the strength of the bull market that we are in.”

Sanchez was also positive for the market, highlighting consumer savings rates.

“I’m more bullish than normal, let’s put it that way,” said the CEO. “The savings rate really went up during the pandemic because so many things were closed. And that pent-up demand … just to go out and interact and socialize, that’s going to be pretty impressive, the amount of spending we’re spending will see for the next 12 to 18 months. “

Disclosure: Gordon owns shares in Garmin.

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