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MINNEAPOLIS, Oct. 10 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. recently announced the results of its 14th biannual proprietary research survey, "Taking Stock With Teens," a national study on teen spending habits and retail brand perceptions. After conducting mall research field trips in 10 cities across the United States and surveying approximately 980 students, the Piper Jaffray retail research team published key findings for teens' purchasing behaviors and preferences in the categories of fashion, apparel brands and retailers, beauty and personal care, home furnishings, video games, digital entertainment and restaurants. Piper Jaffray also partnered with the national DECA organization for the sixth time resulting in 3,000 additional completed online surveys.

Overall, the results of the survey show that total fashion spending declined 24 percent from the spring 2007 survey due to a gradual maturing of the fashion cycle. Total spending declines were most pronounced for young women where spending was down 18 percent versus a decline of 9 percent for young men. The survey also found that teens continue to spend a significant amount of money in the fashion category.

"The fashion category still represents 42 percent of the total teen budget for the fall 2007 season despite moderation in spending habits," said Jeff Klinefelter, senior retail research analyst at Piper Jaffray. "However, we found that spending expectations remain largely unchanged, as nearly 50 percent of the students plan to spend the same amount of money on apparel this season. We believe the discrepancy between budget dollars and expectations may be due to a decline in contributions from parents."

Other key findings from the survey include the following:

Parents were also surveyed on their apparel spending in a separate study. The survey results indicated that spending on apparel for their teens is down 33 percent from the spring survey and down 19 percent on a year-over-year basis. Parent spending on themselves is also down 23 percent from spring 2007 and down 26 percent when compared to last year. These results suggest that the average consumer is tightening the reins on spending.

About Piper Jaffray

Piper Jaffray Companies is a leading, international middle-market investment bank and institutional securities firm, serving the needs of middle-market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 25 offices across the United States and international locations in London, Hong Kong, Shanghai and Beijing. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) (

Since 1895. Member SIPC and NYSE.

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SOURCE: Piper Jaffray & Co.

Rob Litt of Piper Jaffray & Co.