Consumer Staple Stocks Taking Lumps Today; Joseph A Banks Declines Another 6% After Warning of Q2 Shortfalls

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Top Consumer Stocks,

WMT -0.7%

MCD -0.3%


DIS -0.3%

CVS -0.1%

KO -0.8%

Consumer stocks are sharply lower today with shares of consumer staple companies in the S&P 500 sinking about 0.8%. Shares of consumer discretionary stocks in the S&P are off about 0.2%.

In company news, Jos. A. Bank Clothiers ( JOSB ) is down 6% at $41.30 a share - sliding as low as $40.60 today - after the retailer forecast Q2 earnings that trail analyst expectations.

JOSB said it is expecting earnings during the three months ended Aug. 3 in a range of $0.49 to $0.53 per share, down from an $0.83 profit during the same quarter last year and missing Wall Street projections by at least $0.15 per share.

The company also said sales were down about 11% year over year, which would translate into around $231.7 million in quarterly sales compared to $260.34 million in sales last year and lagging analyst estimates by $36.14 million.

Today's price slide comes on the heels of a 4.5% loss over the previous two sessions day after BeaconLight Capital criticized JOSB for hoarding cash and failing to better communicate sales challenges. BeaconLight owns about 1% of the company's stock.

In other sector news,

(-) MO, (-0.4%) Wins tentative victory in a California class-action trial over claims smokers were misled about the health risks of Marlboro Lights, with the judge ruling plaintiffs failed to provide a reliable measure of restituion.

(-) JWN, (-3.6%) Reduces FY13 earnings guidance by as much as $0.10 to a new range of $3.60 to $3.70 per share, trailing Street view expecting $3.78 per share. Q2 EPS of $0.93 beats by $0.05. Revenue of $3.2 bln also tops estimates by $10 mln.



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

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This article appears in: Investing , Commodities

Referenced Stocks: JOSB

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