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Sector Update: Consumer

By: MT Newswires
Posted: 8/21/2013 3:41:00 PM
Referenced Stocks: TUES

Consumer stocks are ending lower today with shares of consumer staple companies in the S&P 500 declining 0.3%. Shares of consumer discretionary stocks in the S&P are also sliding 0.3%.

In company news, Tuesday Morning Corp. ( TUES ) is up 20.5% in late trade at $13.75 a share, earlier establishing a new 52-week high of $14.09 that followed the close-out retailer's reporting a 3% year-over-year rise in Q4 sales to $202.1 million, topping the analyst consensus by $2.4 million.

Adjusted net loss for the quarter was $0.13 per share, trailing Wall Street expectations for a break-even quarter. TUES had posted a $0.02 per share loss in the year-ago quarter.

The company today also named Michael Rouleau as its permanent CEO, removing interim from his company title after five months in the post.

In other sector news,

(+) LZB, Q1 earnings of $0.18 per share top consensus estimate by $0.02. Revenue climbs 5.8% over same quarter last year to $318.9 mln, missing Street view by $4.64 mln. Same-store sales rise 12.7% over year-ago levels.

(-) SPLS, Q2 EPS of $0.16 lags consensus view by $0.02 per share. Net sales decline 2.2% from same quarter last to $5.31, trailing estimates by around $60 mln. Lowers FY14 EPS guidance by $0.09 per share; sees single-digit sales decline.