Top Consumer Stocks,
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
In company news, Barnes & Noble (
) 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
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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