Consumer stocks are broadly lower today with shares of consumer
staple companies in the S&P 500 sinking 1.5% while shares of
consumer discretionary firms in the S&P 500 are down 2.1%.
In company news, Tempur Sealy International Inc. (
) is up more than 13% shortly before the closing bell at $45.49,
climbing as high as $47.37 today after the memory-foam mattress
seller reported Q3 earnings and revenue that beat Wall Street
expectations and reaffirmed its in-line FY13 guidance.
TPX earned $0.73 per share during Q3, ex items, beating the
Capital IQ consensus by $0.05 per share. Revenue more than doubled
over year-ago levels, rising 111.4% to $735.5 million and topping
estimates by $26.83 million.
For FY13, TPX said it continues to see earnings of $2.25 to
$2.40 per share on between $2.425 billion to $2.450 billion. The
Street is looking for the company to earn $2.31 on $2.44 billion in
In other sector news,
(+) JCP, Department-store retailer says same-store sales in rose
0.9% in October, up 490 basis points from September. Sales on
jcp.com increased 37.6% year over year.
(-) WFM, Q4 revenue trails estimates by 2%. The upscale grocer
also lowered its guidance for FY14 EPS, revenue below consensus,
upstaging a 20% increase in the quarterly dividend and a new $500
million stock buyback program.
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