Today, Zacks Investment Ideas feature highlights Features: Limited Brands (NYSE: LTD), Pier 1 Imports, Inc (NYSE: PIR) and Coach, Inc. (NYSE: COH).

3 Red-Hot Retail Stocks

2010 looks fantastic because we are stacking it up against a holiday season that was sapped by the recession. But many analysts are saying it this the best shopping season retailers have had in several years.

You could point to the 15.1% increase in sales on "Super Saturday", which is the final Saturday before Christmas. But just look at the hoards of people hitting the stores? It is noticeably busier than in years past.

Buy Yourself Something Nice

As the saying goes, it is better to give than receive, but those don't have to be mutually exclusive. Why not buy yourself something nice? Maybe stock in a retailer who you helped emerge from the recession by opening up your wallet. A strong, lean, mean retailer ready to make the most of the bustling holiday season.

Here are Limited Brands (NYSE: LTD) is best known for Victoria's Secret and Bath & Body Works. I spent about 20 minutes in a Bath & Body Works yesterday. About half of that was waiting in line. 4 cashiers swiping cards couldn't keep the line back. While it is strictly anecdotal, the earnings estimates are not.

After the company upped its outlook in the last quarterly report, the Zacks Consensus Estimate for fiscal 2011 is up 12 cents in the past 2 months, to $1.97.

Next year's forecasts rose 14 cents on average, to $2.20. After earning $1.23 last year, the annual growth rates are now expected to be 60% this year and 12% in 2012.

Pier 1 Imports, Inc (NYSE: PIR) is a specialty retailer focused on home furnishings, gifts and similar items.

I have not found myself in a Pier 1 this season, but I did stop by a Cost Plus World Market a few weeks, which was also swarmed with shoppers. So what? Well it just gives me even more confidence in the outlook for Pier 1.

Forecasts for this fiscal year continue to climb. The Zacks Consensus Estimates is up 8 cents in just the past week. Same store sales were up more than 10% in the most recent quarter leading to the rush of upward revisions.

Now, there is a drop off next year, to 72 cents, but that is also on the rise and could easily be above this year's mark soon. Also, given that the company earned just a penny in fiscal 2010 it is quite the turnaround story.

Coach, Inc. (NYSE: COH) is known for its signature leather handbags and accessories for men and women. The company's price points are on the higher end of the spectrum, but not as high as brands like Louis Vuitton, Fendi and Marc Jacobs.

I did not have a run-in with Coach this year, but this retailer seems like it can do no wrong this year. So, I can't imagine why that would stop in such a busy holiday season.

Estimates for COH have not moved recently, but this company reports in mid January so you will likely see some estimate revisions soon. Hopefully upwards.

Currently analysts are looking for EPS or $2.85 this year, up 20 cents on the previous quarterly report. Next year they are expecting $3.24, which is up 28 cents. If met, the annual growth rates will be 22% and 14%, respectively.

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