Consumer Sector Update for 11/10/2017: JCP,ZOES,KONA

Shutterstock photo

Top Consumer Stocks

WMT +1.43%

MCD -1.11%

DIS +3.00%

CVS +2.69%

KO +0.52%

Consumer stocks were trading higher today, with shares of consumer staples companies in the S&P 500 climbing more than 0.8% while shares of consumer discretionary firms in the S&P 500 were rising more than 0.4%.

In company news, JC Penney ( JCP ) rallied Friday, climbing almost 20% to a session high of $3.29 a share after the department store chain in the morning reported a narrower-than-expected Q3 net loss as comparable sales increased during the August-to-October reporting period and the company introduced a new range of apparel ahead of the upcoming holiday season.

Excluding one-time items, the company recorded an adjusted net loss of $0.33 per share during the three months ended Oct. 28, expanding on a $0.21 per share non-GAAP net loss during the same quarter last year but coming in significantly less than the $0.43 per share adjusted net loss that analysts, on average, were expecting.

Net sales declined 1.8% year-over-year to $2.81 billion but also edged past the $2.77 billion analyst mean. The drop reflects 139 stores closing so far this year, the company said. Same-store sales, which strips out changes in floorspace, increased 1.7% over year-ago levels.

Looking forward, the company is expecting non-GAAP FY17 net income in a range of $0.02 to $0.08 per share, in-line with the $0.06 per share consensus. Same-store sales are seen falling between 0% to 1% from FY16 levels.

In other sector news,

(+) ZOES, (+12.3%) Adjusted Q3 EPS of $0.01 per share declines from $0.04 per share non-GAAP profit during year-ago period but still beats Capital IQ consensus expecting $0.00 per share. Revenue rises 18% to $77.9 million, missing the $78.8 million analyst mean. Trims top end of FY17 forecast expecting $314 million to $322 million by $6 million compared with estimates looking for $316.8 million.

(-) KONA, (-24.5%) Q3 net loss widens to $0.33 per share from $0.24 per share during same quarter last year and misses the analyst mean by $0.11 per share. Revenue rises 2.4% to $44.4 million but also lags the $46.3 million Wall Street mean. Lowers FY17 sales projection by $5 million to $180 million compared with the $183.4 million consensus. Lake Street trims price target by $1.50 to $3.50 a share, reiterating its Buy rating.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Business , Commodities
Referenced Symbols: JCP , ZOES , KONA

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com