SOURCE: Paragon Financial Limited

Paragon Financial Limited

June 04, 2012 08:20 ET

Macy's and Zumiez Post Strong Sales Gains in May

The Paragon Report Provides Stock Research on Macy's and Zumiez

NEW YORK, NY--(Marketwire - Jun 4, 2012) - Despite growing global economic concerns, retail stocks have performed admirably in 2012. The SPDR S&P Retail ETF (XRT) -- which seeks to replicate an index that invests in industries such as apparel retail, automotive retail, food retail, department stores, Internet retail, general merchandise stores, drug retail, and hypermarkets and super centers -- has gained over 11 percent year-to-date, beating the Dow Jones gain of just 1.57 percent. The Paragon Report examines investing opportunities in Retail Industry and provides equity research on Macy's, Inc. (NYSE: M) and Zumiez Inc. (NASDAQ: ZUMZ).

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U.S. consumers' confidence in May is the highest it's been since October 2007 according to a Thomson Reuters/University of Michigan index. Warm weather and falling gasoline prices has helped boost consumer spending. Same-store sales for the month of May jumped 4 percent according to numbers from Retail Metrics, beating analysts' estimates of 1.8 percent. "It shows a real resiliency of the consumer, and generally speaking, it's a positive sign for the state of the retail economy," Joel Bines, managing director at AlixPartners, said in a telephone interview.

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Macy's is one of the nation's premier retailers, with fiscal 2011 sales of $26.4 billion. The company recently reported total sales of $2.015 billion for the four weeks ended May 26, 2012, an increase of 4.1 percent compared with total sales of $1.936 billion in the four weeks ended May 28, 2011. On a same-store basis, Macy's sales were up 4.2 percent in May 2012 as compared to May 2011.

Zumiez is a leading specialty retailer of action sports related apparel, footwear, equipment and accessories. The company announced that total net sales for the four-week period ended May 26, 2012 increased 23.6% to $37.4 million, which beat analysts estimates, compared to $30.3 million for the four-week period ended May 28, 2011.

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