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


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Top Consumer Stocks

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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.

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


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