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STORY: For the less affluent consumer, "we've actually been adding positions to Burlington Stores," Lee said, because the business is "seeing some opportunity in commercial real estate to get very good leases" and have "completely rebuilt their infrastructure with better technology to take advantages of being able to buy great inventory at great prices and understand what their customers want."

On the high end, Lee likes Williams-Sonoma, where the CEO "has digitized that business so she can meet the customers where they are."

"And on the higher, higher end," Lee touted Restoration Hardware as having "made significant investments in building a high-end brand that both has taste, as management says, as well as the ability to execute."