Top Consumer Stocks
Consumer stocks were higher Friday afternoon with shares of
consumer staples companies in the S&P 500 climbing about 0.4%.
Shares of consumer discretionary firms in the S&P 500 were
ahead just 0.1%.
In company news, Nordstrom (
) shares were up nearly 13% in early afternoon trade, posting the
best advance today for a company in the S&P 500, after last
night posting Q1 per-share earnings and revenue that topped analyst
projections and also saying it was seeking a financial partner for
its credit-card receivables.
JWN shares recently were holding on to a 12.8% gain at $69.36
each, earlier rising to a new, all-time at $69.78 a share.
The department-store retailer earned $0.72 per share during its
March quarter, beating the Capital IQ consensus by $0.04 per share.
Revenue rose 6.8% over year-ago levels to $2.84 billion, exceeding
expectations by around $80 million. Same-store sales increased 3.9%
over the same quarter last year, well above its prior outlook
expecting little to 2% growth.
JWN also said it was looking for a financial partner for its $2
billion Nordstrom credit card receivables portfolio, believing a
deal would allow it to maintain the company's customer focus while
also gaining greater financial flexibility.
In other sector news,
(+) KGJI, (+27.2%) Chinese jeweler earns $16.1 mln, or $0.24 per
share, during Q1, up from $3.0 mln during the year-ago period. Net
sales rose 38.9% year over year to $307.5 mln. Analyst estimates
were not available for comparison.
(-) EVRY, (-38.4%) Reports Q1 net loss of $0.73 per share,
excluding non-recurring items, trailing the Capital IQ consensus by
$0.59. Revenue falls 4.6% year over year to $93.2 mln, lagging
estimates by around $7.43 mln.
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