SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Aug 16, 2012) - Retail stocks received a boost Tuesday after the Commerce Department reported that retail sales in July saw their largest gain in five months. The data released showed that after three consecutive months of declines retail sales in the U.S. increased 0.8 percent in July. Five Star Equities examines the outlook for companies in the Retail Sector and provides equity research on Michael Kors Holdings Ltd. (NYSE: KORS) and Estee Lauder Companies Inc. (NYSE: EL).
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The 0.8 percent gain came in above analysts' expectations of 0.3 percent, and followed a 0.7 percent drop in June. One of the biggest surprises from the Commerce Department's report was that every major category of the retail sector saw gains. The U.S. economy continues to show signs of improvement in the second half as U.S. employers also added the most jobs in July since February.
"It looks like lower gas prices, a nice rally in stocks and stronger job growth... helped boost consumer spending in July," said Jennifer Lee, senior economist at BMO Capital Markets.
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Shares of Michael Kors soared over 16 percent Tuesday after reporting impressive first quarter fiscal 2013 results. For the fiscal first quarter the company reported total revenue increased 71 percent to $414.9 million from $243.1 million in the first quarter of fiscal 2012. At June 30, 2012, the Company operated 253 retail stores, including concessions, compared to 177 retail stores, including concessions, at the end of the same prior-year period.
The Estée Lauder Companies Inc. is one of the world's leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. Shares of the company surged over 10 percent Tuesday on strong earnings. For the year, the company had net sales of $9.71 billion, a 10% increase compared with $8.81 billion reported in the prior year.
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