Nike, Michael Kors And Amazon Are Tops With Teens

The latest "Taking Stock with Teens Survey" from Piper Jaffray shows that the top brand for clothing and shoes is Nike Inc. , Michael Kors Holdings Ltd. is number one for handbags, and Amazon.com Inc. is the top shopping website. Piper Jaffray, which released the results for the spring survey on Monday, polled 5,500 teens across 43 U.S. states. The average age of the respondents was 16 and average household income was $66,100. The survey found that overall teen spending is down 2.4% year-over-year, with parents contributing 63% to their spend, down from an average 68% last year. Food comprised 24% of teen budgets with clothing at 19%. Starbucks Corp. is the top restaurant for teens from average-income homes ($55,000 in household income), and the coffee chain ties with Chick-fil-A for the top spot for upper-income teens ($100,000 in household income). Other brands topping the list of preferences are Netflix Inc. for daily video consumption and Snap Inc. for social media platform. The SPDR S&P Retail ETF is up 1.2% in Monday trading, but down 4.7% for the year so far. The S&P 500 index is up 5.5% for the year to date.