Consumer Sector Update for 03/17/2017: TIF,GOOS,ARCO

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Top Consumer Stocks

WMT +0.18%

MCD +1.05%

DIS -0.19%

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KO -0.19%

Consumer stocks were narrowly higher just before the close of trading on Friday, with shares of consumer staples companies in the S&P 500 climbing less than 0.1% while shares of consumer discretionary firms in the S&P 500 were ahead by about 0.1%.

In company news, Tiffany & Co ( TIF ) rose to a 20-month high on Friday after the high-end jewelry retailer topped Wall Street expectations with its Q4 financial results, helped along by strong Asian sales offsetting weaker activity in North America.

Excluding one-time items, the company earned $1.45 per share, falling a penny from the same quarter last year but beating the Capital IQ consensus by $0.07 per share. Global sales grew 1% year over year to $1.2 billion, roughly in-line with the $1.22 billion analyst mean.

Tiffany is projecting FY17 sales growth in the low-single-digit percentage range over last year and by a mid-single-digit percentage on a constant-exchange-rate basis. It also sees net income increasing by a high-single-digit percentage over 2016's $3.55 per share. Analysts, on average, are expecting the company to earn $3.86 per share on $4.08 billion in sales.

TIF shares were up 3% this afternoon at $92.69 each, previously topping out today at their best price since July 2015 at $94.00 a share.

In other sector news,

(+) GOOS, Freshly minted public company rising for a second day after rising nearly 26% on Thursday following its initial public offering of stock. Also reportedly received a favorable mention yesterday on "Mad Money."

(-) ARCO, Launches cash tender offer to re-purchase up to $80 mln of its outstanding 6.625% senior notes due 2023.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Business , Commodities
Referenced Symbols: TIF , GOOS , ARCO

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