Top Consumer Shares:
Consumer shares were higher in pre-bell trading on Tuesday.
In consumer sector news, Michael 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 (
) 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 (
) reported Q4 earnings that exceeded analyst estimates and also set
a target range for FY14 EPS that was in line with consensus at the
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.
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