Consumer Stocks Mixed; Urban Outfitters Up After Saying Sales Rise

By Staff,

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Consumer stocks are ending mixed this afternoon with shares of consumer staples companies in the S&P 500 rising nearly 0.2% while shares of consumer discretionary firms in the S&P 500 are down about 1.0%.

In company news, Urban Outfitters Inc. ( URBN ) is overcoming a weak session for most retailers today, holding on to a 3.2% gain at $36.88 a share in late trade after saying same-store net sales so far this quarter are up in the "mid single-digit" percentages.

The positive sales metric comparing year-over-year sales at locations open at least a year was disclosed in the company's quarterly report for the three months ended Oct. 31.

Analysts have been looking for around 4% growth at URBN this quarter, according to Retail Metrics Inc., and many of the retailer's peers are having a tough time posting any positive sales growth given the steep discounting already underway to attract holiday-season customers this year.

In other sector news,

(+) SNI, Shares climb to a new, all-time high following reports the cable-television programmer may be a takeover target of rival Discovery Communications ( DISCA ).

(-) ALSN, Investment funds affiliated with The Carlyle Group ( CG ) and Onex Corp. (OCX.TO) to sell 12.5 mln shares of the transmission-repair chain. The two funds will still own over 54% of ALSN stock following the offering.

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

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

This article appears in: Investing Commodities
Referenced Stocks: CG , DISCA , URBN

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