Consumer & Retail Research Analysts

In-depth analysis of the consumer and retail market.

Comprehensive investigation, research, and thought are used by our analysts to create the best information and options for our clients.

Eric Gonzalez

Restaurants

Eric Gonzalez is a Vice President and Equity Research Analyst for KeyBanc Capital Markets Inc. With the firm since June 2018, he researches restaurant companies.

Prior to joining KeyBanc Capital Markets, Gonzalez spent seven years as a Vice President and Associate Analyst in Equity Research at RBC Capital Markets and UBS Securities. While there, he worked on the Institutional Investor-ranked research team covering the restaurant sector. Before that, Gonzalez was an Equity Research Associate at Oppenheimer & Co. His other previous experience includes working in institutional fixed-income sales at International Strategy and Investment Group, in interest rate/structured product sales at Nomura Securities International, and in fixed-income sales and trading at Morgan Stanley.  

Gonzalez earned a Bachelor of Science degree from the Dyson School of Applied Economics and Management at Cornell University, as well as a Master of Business Administration degree from Columbia Business School. He also holds the Series 7, 63, 86, and 87 industry licenses. 

In 2017, Gonzalez was recognized as a “Rising Star” in the restaurant sector by Institutional Investor Magazine.

Restaurant Companies Under Research Coverage

Company Ticker
Brinker International, Inc. EAT
Chipotle Mexican Grill, Inc. CMG
Darden Restaurants, Inc. DRI
Denny's Corporation DENN
Dine Brands Global, Inc. DIN
Domino's Pizza, Inc. DPZ
Jack in the Box Inc. JACK
McDonald's Corporation MCD
Papa Johns International, Inc. PZZA
Restaurant Brands International Inc. QSR
Starbucks Corporation SBUX
Sweetgreen, Inc.  SG
Texas Roadhouse, Inc. TXRH
The Wendy's Company WEN
YUM! Brands, Inc. YUM

Ashley Owens

Softlines and Internet Retail

Ashley Owens is a Vice President, Equity Research Analyst, for KeyBanc Capital Markets Inc. With the Company since September 2017, she focuses her research on Consumer Softlines, specifically footwear, specialty retail, and e-commerce companies.

Prior to her promotion to Senior Analyst, she served as an Equity Research Associate on the Technology team in Portland, Oregon, covering the internet and media space with a focus on application technology, video games, and traditional media.

Owens earned a Bachelor of Science degree in finance from Oregon State University. She holds the Series 7, 63, 86, and 87 industry licenses.

Softlines & Internet Retail Companies Under Research Coverage

Company Ticker
a.k.a. Brands Holding Corp. AKA
Boot Barn Holdings, Inc.  BOOT
Brilliant Earth Group, Inc. BRLT
Caleres, Inc. CAL
Crocs, Inc. CROX
Deckers Outdoor Corporation DECK
Etsy, Inc.  ETSY
FIGS, Inc. FIGS
G-III Apparel Group, Ltd. GIII
lululemon athletica inc. LULU
NIKE, Inc. NKE
Nordstrom, Inc. JWN
On Holding AG ONON
Oxford Industries, Inc. OXM
The RealReal, Inc. REAL
Revolve Group, Inc. RVLV
Wolverine World Wide, Inc. WWW

Bradley Thomas, CFA

Retail Hardlines

Bradley B. Thomas is a Managing Director and Equity Research Analyst for KeyBanc Capital Markets Inc. With the company since April 2008, he focuses his research coverage on the retail hardlines industry. 

Prior to joining the firm, Thomas was a Vice President and Senior Analyst in the retail sector at Lehman Brothers. Thomas joined Lehman in 2001 and began his career on the Institutional Investor-ranked retail hardlines team.

In 2018, Thomas was ranked the #1 stock picker in the multiline retail sector by Thomson Reuters. In addition, in 2013, he was ranked #1 of 75 analysts in The Wall Street Journal’s Best on the Street Survey in the specialty retailers and services category. This marked his second WSJ award. He ranked #2 in the home construction and furnishings category in 2012.

Thomas is a graduate of Duke University, where he earned a Bachelor of Science in economics with a minor in history. He is a CFA charterholder and a member of the New York Society of Security Analysts. Thomas is regularly featured in the media, appearing on CNBC and Bloomberg Television, and in publications such as The Wall Street Journal, Business Week, and Barron’s.

Retail — Hardlines Companies Under Research Coverage

Company Ticker
Best Buy Co., Inc. BBY
Central Garden & Pet Company CENTA
Dollar General Corporation DG
Dollar Tree, Inc. DLTR
Ethan Allen Interiors Inc. ETH
Five Below, Inc. FIVE
Haverty Furniture Companies, Inc. HVT
The Home Depot, Inc. HD
La-Z-Boy Incorporated LZB
Lowe’s Companies, Inc. LOW
Ollie’s Bargain Outlet Holdings, Inc. OLLI
PROG Holdings, Inc. PRG
Purple Innovation, Inc. PRPL
RH RH
Sleep Number Corporation SNBR
Somnigroup International Inc. SGI
Target Corporation TGT
Tractor Supply Company TSCO
Upbound Group, Inc. UPBD
Walmart Inc. WMT
Wayfair Inc. W
Williams-Sonoma, Inc. WSM

Noah Zatzkin

Leisure & Performance Brands

Noah Zatzkin is a Vice President and Equity Research Analyst for KeyBanc Capital Markets Inc., covering Leisure & Performance Brands.

Noah rejoined KBCM in 2021, with considerable experience in the consumer retail and e-commerce space, most recently in private equity/restructuring as a Vice President at M3 Partners, LP (consumer softlines focus) and, prior to that, as an Associate Research Analyst at KBCM (specialty retail/consumer softlines and e-commerce). Earlier in his career, he worked as an Associate at BBR Partners LLC, a multifamily office, and as a Consultant at Deloitte.

Noah earned a Bachelor of Business Administration degree from the University of Michigan's Ross School of Business. He holds the Series 7, 63, 86, and 87 industry licenses.

Leisure & Performance Brands Companies Under Research Coverage

Company Ticker
Acushnet Holdings Corp. GOLF
Brunswick Corporation BC
Camping World Holdings, Inc. CWH
Garmin Ltd. GRMN
Harley-Davidson, Inc. HOG
Malibu Boats, Inc. MBUU
MasterCraft Boat Holdings, Inc. MCFT
OneWater Marine Inc. ONEW
Patrick Industries, Inc. PATK
Polaris Industries Inc. PII
Thor Industries, Inc. THO
Topgolf Callaway Brands Corp. MODG
Winnebago Industries, Inc. WGO
YETI Holdings, Inc. YETI

Obtain information about KeyBanc Capital Markets Inc. and its financial professionals. FINRA BrokerCheck

KeyBanc Capital Markets is a trade name under which corporate and investment banking products and services of KeyCorp® and its subsidiaries, KeyBanc Capital Markets Inc., Member FINRA/SIPC, and KeyBank National Association (“KeyBank N.A.”), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives. Banking products and services are offered by KeyBank N.A.

KBCM Research LLC (“KeyBanc Capital Markets Research”), an SEC registered investment advisor, is a wholly owned subsidiary of KeyBanc Capital Markets Inc. KeyBanc Capital Markets Research provides objective and sophisticated Research Services, primarily in the form of published Research Reports, to an institutional client base in exchange for a cash fee. KBCM Research does not provide particularized investment advice with regard to any specific institutional client, on the basis of specific sector or company requests from a client. Our advisory relationship with our clients is strictly limited to the provision of Research Services, which are not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Additional information about KBCM Research LLC also is available on the SEC’s Investment Adviser Public Disclosure (IAPD) website.

Please read our complete KeyBanc Capital Markets disclosure statement.

Securities products and services: Not FDIC Insured • No Bank Guarantee • May Lose Value

Find an Expert

By Industry By Solution

Our Expertise

Connect With Us

Find an Expert

By Industry By Solution

Our Expertise