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