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Analyst Notes by Industry

Advertising Agencies �Aerospace & Defense �Agricultural Inputs �Airlines �Airports & Air Services �Aluminum �Apparel Manufacturing �Apparel Stores �Asset Management �Auto & Truck Dealerships �Auto Manufacturers �Auto Parts �Banks - Global �Banks - Regional - Asia �Banks - Regional - �Banks - Regional - �Banks - Regional - Latin �Banks - Regional - US �Beverages - Brewers �Beverages - Soft Drinks �Beverages - Wineries & �Biotechnology �Broadcasting - Radio �Broadcasting - TV �Building Materials �Business Services �Capital Markets �Chemicals �Coal �Communication Equipment �Computer Distribution �Computer Systems �Confectioners �Conglomerates �Consumer Electronics �Copper �Credit Services �Data Storage �Department Stores �Diagnostics & Research �Discount Stores �Diversified Industrials �Drug Manufacturers - �Drug Manufacturers - �Education & Training �Electronic Components �Electronic Gaming & �Electronics Distribution �Engineering & �Farm & Construction �Farm Products �Financial Exchanges �Food Distribution �Footwear & Accessories �Gambling �Gold �Grocery Stores �Health Care Plans �Health Information �Home Improvement Stores �Household & Personal �Industrial Metals & �Information Technology �Infrastructure �Insurance - Diversified �Insurance - Life �Insurance - Property & �Insurance - Reinsurance �Insurance - Specialty �Insurance Brokers �Integrated Shipping & �Internet Content & �Leisure �Lodging �Long-Term Care �Luxury Goods �Marketing Services �Media - Diversified �Medical Care �Medical Devices �Medical Distribution �Medical Instruments & �Metal Fabrication �Oil & Gas Drilling �Oil & Gas E&P �Oil & Gas Equipment & �Oil & Gas Integrated �Oil & Gas Midstream �Oil & Gas Refining & �Packaged Foods �Packaging & Containers �Paper & Paper Products �Pay TV �Personal Services �Pharmaceutical Retailers �Publishing �Railroads �Real Estate - General �Real Estate Services �REIT - Diversified �REIT - Healthcare �REIT - Industrial �REIT - Office �REIT - Residential �REIT - Retail �Resorts & Casinos �Restaurants �Rubber & Plastics �Scientific & Technical �Security & Protection �Semiconductor Equipment �Semiconductors �Shipping & Ports �Silver �Software - Application �Software - �Solar �Specialty Chemicals �Specialty Finance �Specialty Retail �Staffing & Outsourcing �Steel �Telecom Services �Tobacco �Truck Manufacturing �Trucking �Utilities - Diversified �Utilities - Independent �Utilities - Regulated �Utilities - Regulated �Waste Management �


Stock Analyst Notes (Apparel Stores )



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Date	Analyst Note	Full Analyst Report
05-24-13	Abercrombie Outlook Lacks Promise; Shares Remain Overvalued Despite Today�s Drop	Abercrombie & Fitch Company
05-24-13	Weather and Ongoing Discounting Are Double Whammy for Aeropostale's Earnings; Shares Fairly Valued	Aeropostale, Inc.
05-24-13	Consistent Merchandising Positions Gap for a Solid 2013, but Shares Remain Overvalued	Gap, Inc.
05-24-13	Consumers Continue to Connect With Ross' Dress for Less Mantra, but Shares Not on Discount	Ross Stores, Inc.
05-23-13	L Brands Avoids Stormy Spring With Focus on Fragrance and Lingerie, but Shares Remain Overvalued	L Brands Inc
05-22-13	American Eagle's Merchandising Resonates With Consumers; Shares Undervalued	American Eagle Outfitters
05-21-13	TJX Defies Bad Spring Weather With Healthy 1Q Results; Shares Overvalued	TJX Companies
05-21-13	Urban Outfitters Positioned to Deliver Consistent Growth, but Shares are Slightly Overvalued	Urban Outfitters Inc.
05-16-13	Kohl's Improves Gross Margin but Sales Line Still Tough; Shares Remain Undervalued	Kohl's Corp
04-30-13	Luxottica Still Growing and Leveraging Bottom Line, but Shares Remain Rich and Comparisons Tough	Luxottica Group S.p.A.
04-30-13	Luxottica Still Growing and Leveraging Bottom Line, but Shares Remain Rich and Comparisons Tough	Luxottica Group S.p.A.

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