Sector Update: Consumer Shares Higher Pre-Market; J.C. Penney Rallies on Sales Growth

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Top Consumer Shares:

WMT: +0.95%

MCD: +0.46%

DIS: +1.37%

CVS: -0.24%

KO: +0.50%

GE: +0.57%

Consumer shares were higher in pre-bell trading on Tuesday.

In consumer sector news, Michael Kors ( KORS ) was up nearly 20% after it reported Q3 EPS of $1.11, well ahead of the analyst consensus of $0.86 per share on Capital IQ. Revenue was $1.0 bln, blowing past expectations of $859 mln. Comp store sales increase 27.8%.

For Q4, the company guides for revenue of $790 to $800 mln, better than expectations of $786 mln. EPS is seen at $0.63-$0.65, vs. estimates of $0.65 per share.

And, J.C. Penney ( JCP ) was up 4% after it reported comp store sales growth for the nine-week holiday period in November and December was up 3.1% over the same period last year. For the quarter, comp store sales rose 2.0%, the first time since Q2 2011 the company generated a positive quarterly sales result.

Finally, McGraw Hill Financial ( MHFI ) reported Q4 earnings that exceeded analyst estimates and also set a target range for FY14 EPS that was in line with consensus at the lower end.

Adjusted diluted EPS from continuing operations rose 12% to $0.81 in Q4, coming in ahead of the $0.78 average estimate by analysts polled by Capital IQ.



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

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This article appears in: Investing , Commodities

Referenced Stocks: JCP , KORS , MHFI

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