Consumer Stocks Edging Higher at Mid-Day; Costco Slumps After Fiscal Q2 Earnings Miss

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Consumer stocks were slightly higher Thursday with shares of consumer staples companies in the S&P 500 adding just 0.1%. Shares of consumer discretionary firms in the S&P 500 were up nearly 0.4%.

In company news, Costco ( COST ) shares fell Thursday after the discount retailer reported fiscal Q2 earnings that were down compared with year-ago levels, also missing analyst estimates for the period, and quarterly revenue also lagged the consensus view.

Net income for the 12 weeks ended Feb. 16 was $463 million, or $1.05 per share, down from a $2.01 profit during the same period last year and missing the Capital IQ consensus by $0.12 per share.

Revenue rose 5.8% year over year to $26.31 billion, or around $270 million below analyst projections. Sales at stores open more than 12 months were up 2.0% from last year, trailing Wall Street opinion looking for 2.8% growth. Overall, domestic sales were up 2% over year-ago levels while international sales declined about 1% in February.

Shares were down 2.6% at $113.46 each in recent trade, earlier sliding to an intra-day low of $112.27 a share. The stock has a 52-week range of $101.01 to $126.12 a share.

In other sector news,

(+) BORN, (+23.6%) Earns $0.19 per share in Q4 on $107.9 mln in revenue, up 30.7% from year-ago levels. Analyst estimates were not available for comparison.

(-) SPLS, (-14.4%) Announces plans to close 225 stores after Q4 EPS of $0.33, ex items, misses by $0.06. Revenue falls 10.6% year over year to $5.87 bln, trailing estimates by $130 mln. Same-store sales slide 7%. Guides Q1 earning below consensus.



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: COST

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