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
In company news, shares of electronics retailer hhgregg, Inc. (
) 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.
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