Top Consumer Stocks
Consumer stocks were lower, with shares of consumer staples
companies in the S&P 500 slipping about 0.3%. Shares of
consumer discretionary firms in the S&P 500 were off about
In company news, investors were shunning Krispy Kreme Doughnuts
) Tuesday after the company late Monday reported Q1 revenue
trailing analyst forecasts and lowered its FY15 per-share earnings
guidance below consensus.
KKD shares were down nearly 15% in recent trade at $16.25
apiece, just 5 cents above its session low. The stock has a 52-week
range of $15.70 to $26.63 a share, declining just under 5% in value
over the past year.
Net sales rose 0.8% during the three months ended April 30
compared with the year-ago period to $121.6 million, missing the
Capital IQ consensus by around $3.93 million. It earned $0.23 per
share during the quarter, in-line with estimates.
KKD executives said the doughnut retailer recorded its best
pretax earnings for a single quarter in over ten years, describing
it as "a remarkable achievement" in the wake of severe winter
weather that reduced both in-store and wholesale sales.
Looking forward, KKD cut its projections for FY15 earnings by
$0.04 from its prior outlook to a new range of $0.69 to $0.74 per
share, lagging the Street view by at least $0.02 per share.
In other sector news,
(+) DG, (+4.3%) Q1 revenue grows 6.8% year over year to $4.52
bln, matching analyst estimates. Also reaffirms FY15 EPS of $3.45
to $3.55 on 8% to 9% revenue growth, in-line with Street view
looking for $3.51 per share profit and $19.02 bln in sales.
(-)ZQK, (-37.0%) Reports Q2 net loss of $0.15 per share, $0.13
wider than the Capital IQ consensus. Revenue falls 10.5% to $408
mln, trailing estimates by $38.61 mln. Extends goal of
profit-improvement program until the end of FY17.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.