Sector Update: Consumer

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Consumer stocks are mixed, with shares of consumer staple companies in the S&P 500 little changed after earlier posting small declines while shares of consumer discretionary stocks in the S&P are up around 0.75%.

In company news, Majesco Entertainment ( COOL ) is down more than 7% at $0.60 per share after saying its fiscal Q3 non-GAAP net loss widened by $0.01 compared to the year-ago quarter to $0.09 per share while net revenues dropped 56% year over year to $4 million.

Analysts, on average, were expecting COOL to generate a $0.01 per share net loss on $25.87 million in revenue, according to Capital IQ.

Net sales for the gaming company through the first nine months of FY13 are down 65% from the same period last year, with COOL now saying it expects to report a net loss for all of FY13 with sales also significantly trailing year-ago comparisons.

The Street is looking for COOL to report a $0.15 per share net loss on $67.9 million in revenue during the 12 months ending in October.

In other sector news,

(+) FIVE, (+15.6%) Q2 net sales rise 34.9% year over year to $117.1 million, topping estimates by $4.4 mln. Adjusted net income was $0.11 per share, also beating the Street view by $0.02.

(-) URBN, (-9.9%) Sees Q3 same-store sales rising in the mid-single digits, which would be at the low end of analyst expectations.



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: COOL

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