Consumer Stocks Recovering Portion of Recent Falls; Barnes & Noble Books 12% Drop After Q1

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Top Consumer Stocks,

WMT -0.3%

MCD +0.3%

DIS +0.4%

CVS +1.8%

KO +0.4%

Consumer stocks are higher today with shares of consumer staple companies in the S&P 500 climbing about 0.4%. Shares of consumer discretionary stocks in the S&P are up nearly 1.2%%.

In company news, Barnes & Noble ( BKS ) is down about 12%, rebounding slightly from its deepest decline of the day that followed the book-seller reporting a fiscal Q1 net loss of $1.56 per share, more than double its $0.76 loss in the year-ago quarter and missing the analyst consensus by $0.70 per share.

Revenue fell 8.5% year over year to $1.3 billion, in line with the analyst estimate.

The company reaffirmed its previous FY14 guidance, forecasting a drop in same-store sales in the high single digits on a percentage basis and in the low single digits for campus same-store sales. Core retail comparable bookstore are expected to slide in the low to mid single digits.

BKS also said company founder and Board Chairman Leonard Riggio has suspended efforts to purchase the company's Retail business. Riggio originally disclosed the plan in an SEC filing in February and in a new filing today, said while he may pursue an deal someday in the future, "the company's best interests (are) to focus on the business at hand."

In other sector news,

(+) URBN, (+10%, shy of 52 week highs) Q2 EPS of $0.51 top Street view by $0.03 per share. Net sales rise 12% over last year to $758 mln, coming within $10 mln of estimates.

(-) LITB, (-37%, nearer 52 week lows) Q2 net sales jump 53% year over year to $72.2 mln but lag expectations by $3.6 mln. Adjusted EPS of $0.10 beat by $0.24 per ADS. Sees Q3 revenue of $68 mln to $70 mln, falling at least $8.5 mln below estimates.



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