Sector Update: Consumer


Consumer stocks are higher today with shares of consumer staple companies in the S&P 500 climbing 0.4% while shares of consumer discretionary stocks in the S&P are moving up by 0.9%.

In company news, G-III Apparel ( GIII ) is ahead over 14% at $53.61 a share shortly before the closing bell with the owner of the Vilebrequin clothing brand today posting Q2 earnings and revenue that topped analyst expectations and raised its full-year guidance.

Q2 net income was $0.17 per share, up from a $0.07 gain in the year-ago quarter and topping the Capital IQ consensus by $0.07 per share. Net sales increased by 21% year over year to $304.2 million, beating the Street view by $16.2 million.

GIII raised its sales guidance for the fiscal year ending in January to around $1.61 billion, up about $40 million from its previous outlook. It also raised the top of its projected per-share earnings by $0.10 to a new range of $3.30 to $3.40 per share. The Street view is looking for a $3.30 per share profit on $1.6 billion in sales.

Q3 guidance was in-line with expectations.

In other sector news,

(+) JCP, Glenview Capital increases its stake in the department-store retailer to 20.1 mln shares, or 9.1% overall.

(-) FRAN, Q2 EPS of $0.33 per share miss the Thomson Reuters consensus call by $0.02. Forecasts Q3 sales in a range of $78.0 million to $80.0 million, lagging the Street view by at least $10 million. EPS is projected at $0.19 to $0.21; the Street is at $0.30.

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

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

This article appears in: Investing , Commodities

Referenced Stocks: GIII

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Visualizing Healthcare MG
Visualizing Healthcare MG           
Power on/Power Off IPC
Power on/Power Off IPC              
Spot the Dropout RRC
Spot the Dropout RRC                
Power on/Power Off
Power on/Power Off                  



Most Active by Volume

  • $10.50 ▲ 3.04%
  • $29.22 ▲ 4.62%
  • $16.36 ▼ 0.49%
  • $113.29 ▲ 0.33%
  • $2.39 ▲ 4.82%
  • $5.78 ▲ 0.87%
  • $105.62 ▼ 0.02%
  • $28.42 ▲ 2.53%
As of 8/28/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by