Sector Update: Consumer

By Staff,

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Consumer shares are generally lower in pre-bell trading while Michael Kors ( KORS ) reports Q2 net income was $145.8 million, or $0.71 per diluted share. Revenue increased 38.9% to $740.3 million from $532.9 million.

Analysts expected $0.68 per share on $727 million in revenue. The company expects Q3 total revenue to be in the range of $845 million to $855 million.

And, CVS ( CVS ) is up about 3% in pre-market trade as it reports adjusted EPS increased 28.1% to $1.09. The Street view was $1.02 per share.

Revenue increased 5.8%, or $1.7 billion, to $32.0 billion, beating expectations of $31.5 billion.

Finally, vehicle rental company Hertz Global Holdings, Inc. ( HTZ ) reported late Monday Q3 2013 adjusted diluted EPS of $0.73, ahead of the Capital IQ consensus by $0.02. Year-ago adjusted diluted EPS was $0.63. Worldwide revenues rose 22% year-over-year to $3.1 billion, in line with analysts' estimate.

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

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

This article appears in: Investing Commodities
Referenced Stocks: CVS , HTZ , KORS

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