Sector Update: Consumer


Consumer stocks were sharply lower this afternoon with shares of consumer staples companies in the S&P 500 posting a 1.6% decline. Shares of consumer discretionary firms in the S&P 500 were dropping nearly 1.2%.

In company news, Deckers Outdoor ( DECK ) shares were up nearly 6% in late Friday trading after the boots and footwear seller recorded a smaller net loss than analysts were expecting while also beat the Street view with its quarterly revenue.

The company posted a net loss of $0.08 per share during the transition period ended March 31, topping the Capital IQ consenus by $0.07 per share. Sales reached $294.7 million, also exceeding the analyst mean by around $12.93 million.

Looking forward, DECK is projecting FY15 revenues to increase 13.0% over the twelve month period ended March 31, 2014, while diluted EPS is seen climbing around 13.5% over the prior fiscal year.

For the current quarter ending in June, it expects revenues to rise 12% over the same quarter last year - trailing the consensus view expecting around 9.5% growth - with a net loss of $1.33 per share compared to the $0.85 per share loss last year. Analysts, on average are looking for a $1.05 per share loss on around $186.17 million in revenue.

DECK shares were up 5.7% at $83.04 each shortly before the closing bell, earlier advancing to an intra-day high of $84.30 a share. The stock has a 52-week range of $46.59 to $90.09 a share, gaining 40.4% in value over the past 12 months.

In other sector news,

(+) DV, Climbs to 32-month high after fiscal Q3 net income of $0.86 per share beats Capital IQ consensus by $0.11 per share. Revenue fell 1.5% year over year to $496.1 mln but still edged out analyst estimates by around $2.58 mln.

(-) P, Forecasts break-even Q2 to EPS of $0.03, trailing analyst estimates for the current quarter by at least $0.02 per share. Also guides FY14 revenue below Street view. Q1 EPS beats by $0.01 and revenue was $13.3 mln better than consensus.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: DECK

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