An analyst recommends buying the brands themselves rather than traditional brick & mortar retailers.
Hedge fund billionaire Barry Rosenstein's Jana Partners added 12 new positions, according to recent 13F filings.
Michael Kors and Ralph Lauren beat on earnings but peaked in price, while Movado and Tiffany prepare their earnings for mid-March.
Bespoke Investment Group has just launched its Amazon Survivors Index.
Tiffany and Signet Jewelers are trading higher after strong results and could add to gains in coming weeks.
Stocks with large international sales such as Boeing, Tiffany and Wynn Resorts may outperform.
Generic Robotic Hand: Amazon.com has 45,000 robots filling orders, while Wal-Mart is racing to catch up
Amazon is aggressively expanding, but several retailers have no cause for alarm, according to Cowen.
But don't expect the double-digit levels achieved earlier this decade, says the ratings firm.
Signet Jewelers is the latest luxury jewelry retailer to reveal disappointing first-quarter results