Sector Update: Consumer

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Consumer shares are solidly higher in pre-bell trading as stocks recover from a sell off yesterday and Darden Restaurants ( DRI ) and Carmax ( KMX ) report quarterly earnings.

Darden Restaurants reports total sales from continuing operations were $2.30 billion, an 11.3% increase from the $2.07 billion generated in Q4 last year. Fourth quarter diluted net earnings per share from continuing operations were $1.01, a 12% decrease from $1.15 per diluted share in Q4 2012. Net earnings from continuing operations in this year's fourth quarter were $133.3 million, which compares to net earnings from continuing operations of $151.6 million last year.

If comparable, analysts expected earnings of $1.05 on revenues of $2.3 billion for Q4. DRI is down 0.5% at $51.00 in pre-market trade.

And Carmax shares are up 5% at $46.71 as it reports Q1 net sales and operating revenues increased 19% to $3.31 billion from a year prior. Net earnings grew 21% to $146.7 million with earnings per diluted share up 23% to $0.64 from a year prior. Analysts expected $0.58 per share on $3.2 billion in revenue for Q1.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: DRI , KMX

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