Consumer stocks are ending mostly higher today with shares of
consumer staple companies in the S&P 500 climbing about 0.2%.
Shares of consumer discretionary stocks in the S&P are up
In company news, Bob Evans (
) is up more than 9% at $52.01 a share, earlier climbing to within
10 cents of its 52-week high at $52.38 after raising its quarterly
dividend to $0.31 per share and increased its share repurchase
program by another $150 million to a total of $175 million in
The bigger dividend and expanded stock buybacks appear to be
overcoming any drag the restaurant chain's lackluster Q1 results,
including a 19.6% decline in net sales from the same quarter last
year to $329.4 million, also trailing the Street consensus by $7.89
EPS for the quarter was $0.58, in line with analyst
expectations. BOBE also reaffirmed its FY14 earnings guidance of
$2.60 to $2.67 per share, lagging analyst estimates by at least
$0.03 per share.
In other sector news,
(+) URBN, Q2 EPS of $0.51 top Street view by $0.03 per share.
Net sales rise 12% over last year to $758 mln, coming within $10
mln of estimates.
(-) LITB, Q2 net sales jump 53% year over year to $72.2 mln but
lag expectations by $3.6 mln. Adjusted EPS of $0.10 beat by $0.24
per ADS. Sees Q3 revenue of $68 mln to $70 mln, falling at least
$8.5 mln below estimates.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.