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Consumer Sector Update for 08/10/2017: M,HDSN,DOOR


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Top Consumer Stocks

WMT -1.07%

MCD +1.24%

DIS -1.52%

CVS -0.14%

KO +0.41%

Consumer stocks were broadly lower this afternoon, with shares of consumer staples companies in the S&P 500 recouping a portion of their prior declines and pulling less than 0.3% of breaking even for today while shares of consumer discretionary firms in the S&P 500 remaining over 1.4% lower.

In company news, Macy's ( M ) was down by double digits shortly before the closing bell on Thursday after the department store giant this morning said its Q2 profit and sales declined compared with the same quarter last year but still topped analyst projections.

The company earned $0.48 per share during the quarter, down from $0.54 per share during the year-ago period but sneaking by the analyst consensus by a $0.01 per share. Net sales declined 5.4% from last year to $5.55 billion, also topping Street forecasts expecting $5.52 billion. Same-store sales were down 2.8% on an owned basis during the quarter and falling 2.5% on an owned plus licensed basis.

Looking ahead, it sees comparable-store sales on an owned basis down between 2.2% and 3.3%, with comparable sales on an owned plus licensed basis down between 2.0% and 3.0%. Total sales are expected to be down between 3.2% and 4.3%.

In other sector news,

(+) HDSN, Fiscal Q1 EPS beats by $0.02 per share. Revenue rises 38% to $38.8 mln, roughly in-line with the $38.96 mln consensus. Also, acquires Airgas-Refrigerants from parent company Airgas (ARG) for $220 mln. Transaction expected to close before the end of 2017.

(-) DOOR, Adjusted Q2 EPS falls to $0.89 from $1.02 per share during year-ago period and trailing the Capital IQ consensus by $0.22 per share. Net sales rise 1% to $520 mln, also lagging the $547.8 mln analyst mean.

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: M , HDSN , DOOR


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