Estee Lauder (EL), Starbucks (SBUX) and Wynn Resorts (WYNN) are the Club's consumer discretionary stocks with the greatest exposure to the Chinese market.
Shares of Estee Lauder, Starbucks and Wynn — up roughly 3.5%, 9.2% and 37.5% year-to-date, respectively — edged up on the news Tuesday.
For Estee Lauder, a leader in luxury skin care, makeup and fragrances, China accounts for about a third of total revenue.
The Club's take China's latest economic data highlights our investment case for our three big consumer companies doing business in the country.
However, we're pleased to see a robust rebound in consumer activity in the world's second largest economy, signifying a positive growth outlook for Estee Lauder, Starbucks and Wynn Resorts.