Sector Update: Consumer

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Consumer stocks were solidly lower Tuesday, with shares of consumer staples companies in the S&P 500 sliding 0.2% while shares of consumer discretionary firms in the S&P 500 were down 0.9%.

In company news, shares of electronics retailer hhgregg, Inc. ( HGG ) were down sharply Tuesday after the company offered fiscal Q4 guidance trailing the analyst consensus.

HGG shares were down more than 11%% in recent trade at $7.72 each, earlier falling to within 16 cents of its 52-week low of $7.23 a share.

The company said it now sees per-share earnings for the three months ended March 31 of $0.09, trailing the Capital IQ consensus by $0.01 per share. It also is projecting a 9.9% year over year decline in quarterly revenue to around $538.3 million, lagging the Street view by $13.67 million.

HGG saw the steepest decline in Q4 sales in its computing and wireless category, sliding 22.6% from year-ago levels, while consumer electronics sales fell 18.9%.

In other sector news,

(+) KO, (+3.5%) Q1 earnings of $0.44 per share, excluding non-recurring items, match the Capital IQ consensus. Revenue declines 4.2% year over year to $10.58 bln, edging out estimates by around $30 mln.

(-) PBY, (-14.3%) Lowers GAAP Q4 net loss to $3.3 mln, or $0.06 per share, from $14.5 mln loss last year. Excluding items, the loss was $0.00, missing estimates for a $0.05 per share profit. Revenue falls 6.6% year over year to $495.7 mln, trailing the consensus view by $38.82 mln.



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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Referenced Stocks: HGG

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