Sector Update: Consumer

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Consumer stocks are mixed in late trade today with shares of consumer staple companies in the S&P 500 rising 0.3% while shares of consumer discretionary stocks in the S&P are down 0.6%.

In company news, Sears Hometown and Outlet ( SHOS ) is down over 17% at $32.34 a share after earlier today reporting Q2 net income of $0.40 on around $656.9 million in revenue, up about 2% from the year-ago period.

Same-store sales company-wide rose 1.4% year over year, sales at its namesake Hometown stores open at least one year falling 0.4% from the year-ago quarter offset by an 8.2% increase at its Sears Outlet location. Sales of lawn and garden equipment along with home appliances increased while consumer-electronics sales tumbled over 50% following the company's exit from most aspects of that category.

Also today, SHOS authorized a $25-million buyback program of its common stock.

In other sector news,

(+) DIAL, Agrees to be acquired by Cumulus Media ( CLMS ) for $260 mln. In related move, CMLS will sell 52 stations to Townsquare Media for $238 mln in cash as well as swapping 15 of its stations for five stations all in Fresno, Calif. CLMS also is higher today.

(-) KKD, Q2 earnings of $0.14 per share, ex items, miss by $0.02. Revenue rises 10.4% year over year to $112.7 mln, topping estimates by $580,000. The doughnut chain reaffirms FY13 and FY14 EPS guidance, both trailing expectations by at least $0.01.



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This article appears in: Investing , Commodities

Referenced Stocks: CLMS , SHOS

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