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 (
) 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
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
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.
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