Top Consumer Stocks
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.