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Consumer Sector Update for 08/11/2017: CWH,BGI,JCP


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Consumer stocks eased somewhat in late Friday trading, with shares of consumer staples companies in the S&P 500 rising just over 0.1% while shares of consumer discretionary firms in the S&P 500 were climbing nearly 0.6% this afternoon.

In company news, Camping World Holdings ( CWH ) was more than 10% higher in late Friday trading after the recreational vehicle seller last night reported Q2 net income and revenue exceeding Wall Street expectations.

Excluding one-time items, net income was $0.91 per share, the company said, improving on a $0.65 per share profit last year and beating the Capital IQ consensus by $0.12 per share. Revenue increased 20.1% year over year to $1.28 billion, also topping the $1.16 billion Street view. Same-store sales rose 10.6% over the same quarter last year.

In other sector news,

(+) BGI, Sells Mayor's Jewelers subsidiary to UK-based Aurum Holdings for $104.6 mln. Deal also includes five-year pact to sell Birks jewelery in the UK through BGI's Mappin & Webb and Goldsmiths stores. Net proceeds will be used to invest in BGI's Canadian operations.

(-) JCP, Adjusted Q2 net loss of $0.09 per share is $0.05 wider than analyst mean. Total revenue rises 1.5% to $2.92 bln, beating the $2.84 Street view. Same-store sales fall 1.3%. Tesley Advisory downgrade to Market Perform, also cutting price target by $2 to $5 a share.

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: CWH , BGI , JCP


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