Retailers Look to Benefit as U.S. Consumer Spending in September Increases the Most in Six Months
15 Noviembre 2012 - 7:20AM
Marketwired
Retail stocks have performed admirably in 2012 despite concerns of
a global economic slowdown. The Standard and Poor's 500 Retailing
Index has gained 22 percent year-to-date, compared to a gain of 10
percent for the S&P 500 Index. Retail Metrics Inc. last month
reported that U.S. same store sales of the companies tracked by the
research firm increased 3.9 percent in September, topping analysts'
estimates of 3.7 percent. The Paragon Report examines investing
opportunities in the Retail Industry and provides equity research
on Michael Kors Holdings Ltd. (NYSE: KORS) and Coach, Inc. (NYSE:
COH).
Access to the full company reports can be found at:
www.ParagonReport.com/KORS
www.ParagonReport.com/COH
Recent data has shown that consumer spending in September saw
its biggest increase in 6 months. The Commerce Department on Monday
reported that consumer spending increased 0.8 percent in September,
which was twice the gain seen in personal income, after a 0.5
percent gain in August. According to Bloomberg economists had
predicted a gain of 0.6 percent.
"The strength in September gives consumer spending a good lift
for the fourth quarter," said Stephen Stanley, chief economist at
Pierpont Securities LLC. "The housing market seems to have turned.
Consumers are clearly feeling better and are going out and spending
a bit more."
Paragon Report releases regular market updates on the Retail
Industry so investors can stay ahead of the crowd and make the best
investment decisions to maximize their returns. Take a few minutes
to register with us free at www.ParagonReport.com and get exclusive
access to our numerous stock reports and industry newsletters.
Shares of Michael Kors surged earlier this week after reporting
sales jumped 74.4 percent to $532.9 million in the second quarter.
Despite the strong quarter the company reported third quarter
guidance that was below analysts' estimates. "As the overall
macroeconomic environment remains very uncertain, we continue to
approach the future cautiously," said CEO Stephen Sadove.
Coach is a leading American marketer of fine accessories and
gifts for women and men. The company reported strong third quarter
profits, which were driven by strong growth in Asian markets. Sales
revenue in the third quarter totaled $1.16 billion, an 11 percent
increase from the $1.05 billion achieved in the year-ago
quarter.
The Paragon Report has not been compensated by any of the
above-mentioned publicly traded companies. Paragon Report is
compensated by other third party organizations for advertising
services. We act as an independent research portal and are aware
that all investment entails inherent risks. Please view the full
disclaimer at: http://www.paragonreport.com/disclaimer
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