Consumer Stocks Mixed Near Close; Sears Hometown & Outlet Slumps After Q2 Results


Top Consumer Stocks,

WMT +0.75%

MCD -0.56%

DIS -0.26%

CVS +0.35%

KO +0.24%

Consumer stocks are mixed in late trade today with shares of consumer staple companies in the S&P 500 rising 0.3% while shares of consumer discretionary stocks in the S&P are down 0.6%.

In company news, Sears Hometown and Outlet ( SHOS ) is down over 17% at $32.34 a share after earlier today reporting Q2 net income of $0.40 on around $656.9 million in revenue, up about 2% from the year-ago period.

Same-store sales company-wide rose 1.4% year over year, sales at its namesake Hometown stores open at least one year falling 0.4% from the year-ago quarter offset by an 8.2% increase at its Sears Outlet location. Sales of lawn and garden equipment along with home appliances increased while consumer-electronics sales tumbled over 50% following the company's exit from most aspects of that category.

Also today, SHOS authorized a $25-million buyback program of its common stock.

In other sector news,

(+) DIAL, Agrees to be acquired by Cumulus Media ( CLMS ) for $260 mln. In related move, CMLS will sell 52 stations to Townsquare Media for $238 mln in cash as well as swapping 15 of its stations for five stations all in Fresno, Calif. CLMS also is higher today.

(-) KKD, Q2 earnings of $0.14 per share, ex items, miss by $0.02. Revenue rises 10.4% year over year to $112.7 mln, topping estimates by $580,000. The doughnut chain reaffirms FY13 and FY14 EPS guidance, both trailing expectations by at least $0.01.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: CLMS , SHOS

MT Newswires

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