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Sector Update: Consumer Shares Lower Pre-Market; Tiffany Up 2% on Q2 Results
By: MT Newswires
Top Consumer Shares:
Consumer shares are lower in pre-bell trading. But bucking the declines, Tiffany ( TIF ) shares are up 2% at $83.35 as it reports Q2 sales of $926 million and EPS of $0.83, versus the analyst consensus on Cap IQ of $942 million in sales and earnings of $0.74 per share.
For the fiscal year ending January 31, 2014, management now forecasts net earnings in a range of $3.50-$3.60 per diluted share, compared with $3.43-$3.53 per diluted share in its previous outlook and $3.25 per diluted share in 2012. The Street is at $3.54 per share.
And, Starbucks' ( SBUX ) Evolution Fresh, a cold-pressed juice, along with a selection from the new Evolution Harvest line of premium snacks is launching in Whole Foods Market ( WFM ) today. SBUX is up 0.17%.
The expansion advances Evolution Fresh growth plans to be in approximately 8,000 Starbucks and grocery locations by the end of the year.
Finally, Sanderson Farms, Inc. ( SAFM ) reported Q3 2013 net income of $67.9 million, or $2.95 per share, on revenues of $739 million. Analysts polled by Capital IQ expected EPS of $2.61 and revenues of $736 million.
In the prior-year period, net income was $28.7 million, or $1.25 per share, on revenues of $624.9 million. SAFM is up 1.5% at $70.86.