Sector Update: Consumer Shares Flat; Urban Outfitters Initiated at Buy at Sterne Agee


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Top Consumer Shares:

WMT: flat

MCD: flat

DIS: +0.40%

CVS: flat

KO: flat

GE: -0.08%

Consumer shares are fairly flat in pre-bell trading.

Cherokee Inc. ( CHKE ) is unchanged after the casual clothing manufacturer reporting Q2 net income of $0.23 per share, up from a $0.19 per share profit during the same quarter last year and beating the single analyst estimate looking for a $0.21 per share gain during the three months ended Aug. 3.

Net revenues for the period rose nearly 19% year over year to $7.5 million, with the company saying the increase was largely due to higher retail sales of Cherokee-branded products at Target ( TGT ) stores and the addition of the Liz Lange brand to its product portfolio.

And, coverage of retailer Urban Outfitters, Inc. ( URBN ) has been initiated by analysts at Sterne Agee with a Buy rating. Price target information was not available.

In pre-market activity, shares of URBN are up 0.8% at $38.60, within a 52-week range of $34.38 - $44.96.

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
More Headlines for: CHKE , TGT , URBN

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