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Sector Update: Consumer Shares Lower; Mattel Sinks 11% on Q4 Earnings Miss
By: MT Newswires
Top Consumer Shares:
Consumer shares were generally lower in pre-bell trading Friday along with the broader stock market.
In consumer sector news, Mattel ( MAT ) was down 11% after it reported Q4 EPS of $1.07, below the analyst consensus of $1.20 per share on Capital IQ. Sales were $2.11 bln, missing the Street view of $2.36 bln.
The company noted sales were mostly down, with worldwide sales off 6% from last year; North American gross sales down 10%; and international gross sales flat with last year.
And, Wal-Mart ( WMT ) was down 1% after it said it expects underlying Q4 EPS at or slightly below the low end of its guidance range of $1.60 to $1.70. For the full year 2014, it expects underlying EPS at or below the low end of its guidance range of $5.11 to $5.21 per share. The analyst consensus on Capital IQ calls for Q4 earnings of $1.65 and earnings of $5.19 per share for the year.