Consumer Sector Update for 03/20/2017: DXLG,TIF,MOV


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Consumer stocks were narrowly mixed in recent trade on Monday, with shares of consumer staples companies in the S&P 500 climbing about 0.1% while shares of consumer discretionary firms in the S&P 500 were falling about 0.3%.

In company news, Destination XL Group ( DXLG ) declined to a nearly eight-year low on Monday after the men's apparel retailer missed Wall Street expectations with its Q4 net sales and also forecast FY17 financial results trailing analyst opinion.

Excluding one-time items, Destination reported net income of $0.02 per share, reversing an adjusted net loss of $0.02 per share during the same quarter last year and exceeding the Capital IQ consensus modeling a $0.01 per share net loss. Net sales declined 1.1% from year-ago levels to $122.6 million during the three months ended Jan. 28, falling short of the $125.

For the quarter ended Jan. 28, total sales fell 1.1% from year-ago levels to $122.6 million, lagging the Capital IQ consensus expecting $125.8 million. The revenue miss upstaged a surprise Q4 profit, with the company posting adjusted net income of $0.02 per share, reversing a $0.02 per share net loss during the same quarter last year and topping the Street view looking for a $0.01 per share net loss.

Looking forward, Destination is expecting a non-GAAP FY17 net loss in a range of $0.06 to $0.14 per share on between $470 million to $480 million in sales. That compares with the analyst consensus modeling adjusted FY17 net income of $0.06 per share on $481.6 million in sales. Same-store sales are seen rising 1% to 4% over year-ago levels, the company said.

DXLG shares were down over 2% at $2.35 each, previously sliding to their lowest price since August 2009 at $2.10 a share.

In other sector news,

(+) TIF, (+1.0%) Upgrade to Outperform from Market Perform at William Blair.

(-) MOV, (-2.1%) Q4 EPS falls to $0.22 from $0.40 per share profit last year and missing Street view by $0.01 per share. Revenue falls 8.7% from last year to $130.8 mln, trailing Capital IQ consensus by $6.3 mln. FY18 per-share earnings and revenue guidance also lag analyst means.

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: DXLG , TIF , MOV


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