Reporter's Notebook: Small-Cap Confab

Portfolio managers and analysts flocked to New York this week for the Brean Murray, Carret Small Cap Institutional Investor Conference. Stock pickers appeared cautiously hopeful they'd find new ideas among the sometimes ignored smaller-cap stocks.

One of the themes that emerged on the first day was the opportunity for serving moderate income consumers and the average American family -- particularly busy moms. Companies such as Stage Stores (STGS Quote), Kuhlman Company (KHLM Quote) and Capitol Bancorp (CBC Quote), which develops community banks, were among those who pressed the Americana theme.

Claire's Stores (CLE Quote) co-CEO Marla Schaefer gave a solid account of her company, indicating that average sales per square foot of $401 in 2005 will be higher this year. She attributed some of her company's success to the popularity of its jewelry, which enjoys a high margin. Thursday, Claire's reported same-store sales of 9% in January, including a "mid-teens" rise in North America and a "negative low single digits number for Claire's International. ...