Top Institutional Investor-Rated Retail Analyst Dana Telsey Launches Telsey Advisory Group

Initiates Coverage on 38 Retail Companies In Broadlines, Hardlines, Luxury

Goods, and Specialty Stores Sectors

Conference Call To Be Held Today at 2:30 PM ET To Discuss Company Launch

Aug 01, 2006, 01:00 ET from Telsey Advisory Group

    NEW YORK, Aug. 1 /PRNewswire/ -- Telsey Advisory Group(TM) (TAG),
 formed by Dana Telsey, one of Wall Street's leading retail analysts, today
 announced the launch of its operations with the initiation of coverage on
 38 retail companies. The firm's coverage will focus on four primary
 industry sectors: Broadlines, Hardlines, Luxury Goods, and Specialty
 Stores. Coverage for the 38 companies is being initiated by Ms. Telsey, a
 seven-time #1 ranked analyst by Institutional Investor, and TAG's team of
 expert industry analysts.
     Following are the companies under coverage, organized by analyst and
     Dana Telsey, Broadlines Sector: Federated Department Stores, Inc. (FD),
 J.C. Penney Corporation, Inc. (JCP), Kohl's Corporation (KSS), Nordstrom,
 Inc. (JWN), Target Corporation (TGT), and Wal-Mart Stores, Inc. (WMT).
     Joseph Feldman, Hardlines Sector: Bed Bath & Beyond Inc. (BBBY), Best
 Buy Co., Inc. (BBY), Circuit City Stores, Inc. (CC), The Home Depot, Inc.
 (HD), Lowe's Companies, Inc. (LOW), Office Depot, Inc. (ODP), PetSmart,
 Inc. (PETM), Staples, Inc. (SPLS), and Williams-Sonoma, Inc. (WSM).
     James Hurley, Luxury Goods Sector: Blue Nile, Inc. (NILE), Bulgari
 S.p.A. (BUL-MIL), Burberry Group plc (BRBY-LON), Coach, Inc. (COH),
 Compagnie Financiere Richemont SA (CFR-VTX), Hermes International
 (RMS-PAR), LVMH Moet Hennessy Louis Vuitton (MC-PAR), Tiffany & Co. (TIF),
 and Tod's SpA (TOD-MIL).
     Dana Telsey and Vera Van Ert, Specialty Stores Sector: Abercrombie &
 Fitch Co. (ANF), American Eagle Outfitters, Inc. (AEOS), AnnTaylor Stores
 Corporation (ANN), Chico's FAS, Inc. (CHS), Gap Inc. (GPS), Hot Topic, Inc.
 (HOTT), J. Crew Group, Inc. (JCG), Limited Brands (LTD), Pacific Sunwear of
 California, Inc. (PSUN), Ross Stores, Inc. (ROST), The Talbots, Inc. (TLB),
 The TJX Companies, Inc. (TJX), Tween Brands, Inc. (TWB), and Urban
 Outfitters, Inc. (URBN).
     Tom Chin, Director of Analytics, is supporting the entire coverage
 universe with development and maintenance of proprietary state-of-the-art
 models and valuation methodologies.
     The New York-based firm provides the most comprehensive view of the
 retail sector available to investors. The firm, which sells its information
 and services by subscription, offers company and industry reports,
 sophisticated financial models and primary market research. TAG delivers
 expert analytical commentary that synthesizes numerous sources, including
 financial analysis, extensive channel checking, meetings and discussions
 with company managements and industry experts, in-market store and mall
 visits, and consumer research.
     Because TAG is completely committed to having an independent and
 unbiased opinion, it will not be active in brokerage or trading-related
 businesses; have investment banking interests in any of the companies it
 covers; or issue buy, sell or hold recommendations.
     TAG has instead initiated coverage with price targets. "Extensive
 research with the buy side indicated price targets were much more useful
 than ratings, while company managements believed they would be more
 credible. Price targets also enable TAG to react to market conditions
 quicker, giving clients a much more timely indication of our view on a
 stock," said Kayle Watson, Managing Director of Sales.
     TAG subscribers will access reports and models through one of the most
 sophisticated and flexible digital publishing systems on Wall Street. The
 Web- based system delivers timely research and gives subscribers the unique
 ability to customize and personalize the information they seek.
     "The demand for high-quality, independent research has never been
 greater," said Ms. Telsey, TAG CEO and Chief Research Officer. "TAG is
 well- positioned to set a new standard for equity research by delivering
 timely, contextual, thought-leading analysis that institutional investors
 demand all in one place. We have brought together an exceptional team with
 unmatched retail industry and analytical expertise. We are committed to
 becoming Wall Street's leading provider of independent research by
 delivering the most comprehensive and insightful analysis for nearly every
 sector of retailing."
     Dana Telsey will hold a conference call for media today from 2:30 to
 3:00 P.M. ET to introduce Telsey Advisory Group (TAG). Ms. Telsey will
 provide context on TAG's initiation of coverage on 38 companies in the
 hardlines, softlines, broadlines, and luxury retail sectors, discuss the
 outlook for the retail sectors and provide a look ahead on retail
 same-store sales and offer thoughts on the future of independent equity
     Domestic Dial in Phone Number: 888-562-3356
     International Dial in Phone Number: 973-582-2700
     Conference Call ID Number: 7667060
     Telsey Advisory Group, ("TAG") is an independent research firm, founded
 by Dana Telsey, a 13-year ranked, seven-time #1 ranked analyst by
 Institutional Investor. Ms. Telsey is widely recognized as Wall Street's
 leading retail industry expert by the investment community, senior
 executives, consultants, advisors to the industry, and the media. TAG is in
 the unique position of having the scale of a large research department
 along with the objectivity of an independent, as the firm provides no
 investment banking or trading services. TAG delivers the best of both
 worlds to buy-side investment firms that rely on quality research and
 counsel. Telsey Advisory Group is headquartered at 535 Fifth Avenue, 12th
 Floor, New York, NY 10017. Phone: 212-973-9700. URL:
     Ms. Telsey has followed over 70 companies during her 21-year career and
 was the only U.S. based analyst to provide complete analysis of the
 European luxury goods sector. From 1994 to 2006, Ms. Telsey was at Bear,
 Stearns & Co. Inc. covering the retail sector, most recently as a Senior
 Managing Director. Prior to Bear Stearns, Ms. Telsey was the Retail Analyst
 at C.J. Lawrence and Vice President of the Baron Asset Fund at Baron
 Capital, Inc.
     She has appeared as a guest analyst on television shows such as Wall
 Street Week, ABC News, The NBC Evening News and The Today Show as well as
 regular guest appearances on CNN and CNBC. Ms. Telsey is a regular
 contributor to Luxury Briefing, the leading luxury goods industry
 publication, and WGSN (Worth Global Style Network), an online research,
 trend analysis and news service for the fashion and style industries.
     CONTACT:   David Zweifler/Danny Charles
                G.S. Schwartz & Co.
                470 Park Avenue South, 10th Floor
                New York, NY 10016
                Office: 212-725-4500
                Fax: 212-725-9188

SOURCE Telsey Advisory Group