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Consumer Sector Update for 01/03/2018: PAG,GTIM,CWH


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Consumer stocks were slightly higher Wednesday afternoon, with shares of consumer staples companies in the S&P 500 posting a more than 0.1% advance while shares of consumer discretionary firms in the S&P 500 were climbing almost 0.3%.

In industry news:

Same-store sales rose 5.0% over year-ago levels during the week ended Dec. 30, slipping 0.7 percentage points from the prior week's pace, according to the Redbook weekly survey of chain-store retailers. Month-to-date sales were 0.3% higher compared with December 2016, advancing for a second week in a row after snapping an 11-week string of negative growth.

Also, December vehicle sales were expected to stay little changed from the prior month at 17.5 million units, with estimates ranging between 17.0 million to 17.7 million vehicles. Among individual automakers, Ford Motor Co ( F ) said its US sales rose 0.9% during December over year-ago levels to 242,049 vehicles while Fiat Chrysler Automobiles NV ( FCAU ) reported a 11% drop in US sales last month. Total US vehicle sales declined 3.3% at General Motors ( GM ) to 308,539 units, including a 2% increase in retail sales over year-ago levels.

Among consumer stocks moving on news:

Penske Automotive ( PAG ) was fractionally lower Wednesday after the company said it has completed the acquisition of UK used-vehicle retailer The Car People for an undisclosed amount. Penske said The Car People sells around sells 18,000 vehicles yearly from four locations and generates a combined $300 million in annual revenue.

In other sector news:

+ Good Times ( GTIM ) was nearly 4% higher after the restaurant chain reported a 5.9% increase in its fiscal Q1 same-store sales.

- Camping World (CWH) was fractionally lower Wednesday afternoon following its announcement of a deal to acquire specialty retailer Erehwon Mountain Outfitter. Financial terms of the transaction were not disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Business , Commodities
Referenced Symbols: F , FCAU , GM , PAG , GTIM


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