SOURCE: Paragon Financial Limited

Paragon Financial Limited

November 15, 2012 08:20 ET

Retailers Look to Benefit as U.S. Consumer Spending in September Increases the Most in Six Months

The Paragon Report Provides Stock Research on Michael Kors and Coach

NEW YORK, NY--(Marketwire - Nov 15, 2012) - 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).

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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."

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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.

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