Consumer shares are flat to lower in pre-bell trading today. In
consumer sector news, AutoZone (
) 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. (
) 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 (
) 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.
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