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Sector Update: Consumer
By: MT Newswires
Consumer stocks were ending lower Thursday with shares of consumer staples companies in the S&P 500 slipping just 0.1% while shares of consumer discretionary firms in the S&P 500 were down 0.4%.
In company news, Winnebago Industries ( WGO ) was ending Thursday's session with moderate gains, with shares of the motorhome manufacturer rising nearly 3% after the company reported improved profits that also beat analyst forecasts.
Net income for the three months ended March 1 rose to $9.6 million, or $0.35 per share, up from a $0.22 gain in the year-ago period and topping the Thomson Reuters consensus by $0.05 per share.
Revenue rose 29% to $228.8 million, also exceeding the Street view by around $29.2 million. Motorhome deliveries rose 45% year over year to 2,055 units during the quarter despite unusually colder weather in many parts of the country, the company said.
WGO shares were up 2.7% at $27.32 each shortly before the closing bell, earlier advancing to a session high of $28.27 a share. The stock has a 52-week range of $16.72 to $32.41 a share.
In other sector news,
(+) LULU, Q4 earnings of $0.75 per share beat by $0.03. Net revenue rises 7.3% to $521 mln, topping estimates by $6 mln. Sub-par Q1 and FY15 outlook may have kept the stock off its best levels of the day.
(-) GME, Adjusted Q4 earnings of $1.91 per share trails Capital IQ consensus by $0.02. Revenue climbs 3.4% over year-ago levels to $3.68 bln, missing Street view by $10 mln. Projected FY15 EPS lags consensus by at least $0.05 per share.