Sector Update: Consumer Stocks Flat to Lower Pre-Bell; Wal-Mart Names New CEO of Operating Segment

By Staff,

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Top Consumer Shares:

WMT: flat

MCD: -0.19%

DIS: -0.27%

CVS: flat

KO: -0.22%

GE: -0.18%

Consumer shares are flat to lower in pre-bell trading today. In consumer sector news, AutoZone ( AZO ) reports Q1 EPS of $6.29, vs. the analyst consensus of $6.28 per share on Capital IQ. Sales were $2.09 bln, about in line with expectations. Domestic same store sales, or sales for stores open at least one year, increased 0.9% for the quarter.

And, Wal-Mart Stores, Inc. ( WMT ) announced today that David Cheesewright, 51, will be promoted to president and CEO of Walmart International, the company's second largest operating segment.

Finally, Fifth & Pacific Companies ( FNP ) said it has inked a pact to sell Lucky Brand Jeans to an affiliate of Leonard Green & Partners, L.P. for total consideration of $225 million, with $140 million of the sale price to be paid in cash at closing and the remaining $85 million to be financed in the form of a three year seller note.

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
Referenced Stocks: AZO , FNP , WMT

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