Consumer shares were generally mixed in pre-market trade
In consumer sector news, Walgreens (
) is reporting April sales of $6.49 billion, an increase of 8.8%
from $5.96 billion for the same month in fiscal 2013.
Total front-end sales increased 8.8% in April compared with the
same month in fiscal 2013, while comparable store front-end sales
increased 8.2% Customer traffic in comparable stores increased 2.6%
while basket size increased 5.6%. The results were positively
impacted by a later Easter.
And, SYSCO Corporation (
) reported mixed financial results for Q3, or the quarter ended
March 29, 2014, with earnings shy of analysts' expectations, and
revenue in line.
The distributor of food and related products reported Q1 net
earnings of $180.9 million or $0.31 per share, compared with
$201.42 million or $0.34 per share in the prior-year period. After
adjusting for certain items, which mainly related to merger and
integration planning expenses, and a legal contingency accrual,
adjusted diluted EPS was $0.38, compared with $0.40 in the prior
year period. The Capital IQ analyst estimate is for $0.39.
Revenue was $11.3 billion, up 3.2% from $10.9 billion in the
same quarter last year. Analysts were expecting revenue of $11.37
Finally, Tyson Foods (
) shares edged up in Monday's pre-market session, despite
weaker-than-expected adjusted fiscal Q2 earnings from the producer
of chicken, beef, pork and prepared foods, as its revenue still
topped the Street view and the company's CEO reiterated his
earnings forecast for the year while Tyson also raised its fiscal
2014 sales target.
TSN was down 0.5% at $42.45 in recent
, still near the high end of its 52-week range of $23.39 to
For the quarter ended March 29, 2014, net income attributable to
Tyson jumped to $213 million, or $0.60 per share, from $95 million,
or $0.26 per share, in the quarter ended March 30, 2013.
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