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Consumer Sector Update for 12/06/2017: BF-B,PLAY,WMT


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Consumer stocks were mixed today, with shares of consumer staples companies in the S&P 500 putting up a 0.4% advance while shares of consumer discretionary firms in the S&P 500 were sinking over 0.5%.

In company news, Class B shares of Brown Forman (BF-B) raced to a new, record high on Wednesday, climbing 10% to a best-ever $67.98 a share, after the spirits and wine company this morning reported improved fiscal Q2 net income and sales compared with year-ago levels, exceeding Wall Street expectations, and also raised its FY18 outlook from its prior guidance.

The company earned $0.62 per share during the three months ended Oct. 31, up from $0.50 per share during the same quarter last year and beating the Capital IQ consensus by $0.09 per share. Sales, net of excise taxes, rose 10.1% to $914 million, also topping the $870.6 million analyst mean.

Looking ahead, Brown Forman is projecting FY18 net income in a range of $1.90 to $1.98 per share, an increase from its previous view looking for $1.85 to $1.95 per share and in-line with the $1.91 per share consensus. It also sees FY18 net sales growing between 6% to 7% over year-ago levels, up from its prior guidance expecting 4% to 5% growth and straddling the Street view expecting 6.5% growth to around $3.19 billion in yearly sales.

In other sector news,

(+) PLAY, (+5.5%) Q3 EPS of $0.29 climbs $0.04 per share over last year and exceeding Street view by $0.05 per share. Net sales rise 9.3% year over year to $250 million, lagging estimates by $5.7 million. Lowers FY17 same-store outlook to 0% to 0.75% growth from 1% to 2% previously. Also trims sales forecast.

(-) WMT, (-0.4%) Changing its legal name to Walmart Inc. on Feb. 1, dropping "stores" to reflect an increased emphasis on online and mobile shopping as well as pick-up and delivery sales.

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: PLAY , WMT


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