Consumer stocks are ending mixed this afternoon with shares of
consumer staples companies in the S&P 500 rising nearly 0.2%
while shares of consumer discretionary firms in the S&P 500 are
down about 1.0%.
In company news, Urban Outfitters Inc. (
) is overcoming a weak session for most retailers today, holding on
to a 3.2% gain at $36.88 a share in late trade after saying
same-store net sales so far this quarter are up in the "mid
The positive sales metric comparing year-over-year sales at
locations open at least a year was disclosed in the company's
quarterly report for the three months ended Oct. 31.
Analysts have been looking for around 4% growth at URBN this
quarter, according to Retail Metrics Inc., and many of the
retailer's peers are having a tough time posting any positive sales
growth given the steep discounting already underway to attract
holiday-season customers this year.
In other sector news,
(+) SNI, Shares climb to a new, all-time high following reports
the cable-television programmer may be a takeover target of rival
Discovery Communications (
(-) ALSN, Investment funds affiliated with The Carlyle Group (
) and Onex Corp. (OCX.TO) to sell 12.5 mln shares of the
transmission-repair chain. The two funds will still own over 54% of
ALSN stock following the offering.
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