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Consumer Sector Update for 01/09/2018: AMZN,TGT,HMNY,BBW,SMPL


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Consumer stocks have turned mixed in late Tuesday trading,with shares of consumer staples companies in the S&P 500 falling less than 0.1%, reversing a small gain earlier today, while shares of consumer discretionary firms in the S&P 500 were climbing almost 0.3% this afternoon.

In industry news:

Same-store sales rose 3.4% over year-ago levels during the week ended Jan. 5, slowing 1.6 percentage points from last week's 5% growth pace and marking the weakest reading for the Redbook survey of large chain-store retailers since the week ended Dec. 9. The rise in month-to-date sales also slowed to just 0.1% compared with a 0.3% rate during early December. Experts said the weakening sales metrics during the first week of 2018 likely reflect cold weather persisting in large part of the United States last week as well as consumers taking a break following a very strong December.

Among consumer stocks moving on news:

+ Amazon.com ( AMZN ) climbed to a new record high on Tuesday, topping out at $1,259.33 a share after analysts at Piper Jaffray today raised its price target for the online retailer by $200 - or about 16.7% - to $1,400 a share and reiterated their Overweight investment rating for the company's stock. Amazon, despite its size and continued strong growth, is arguably still in the early innings of its share gain potential, even in today's most penetrated market," Piper analyst Michael Olson wrote in a new research note today. Olson estimates the company had a 4% share of the U.S. market during the recent holiday season and is forecasting 28% sale growth during FY18, writing that given "the U.S. is Amazon's most penetrated market, we see this low-to-mid single digit market share as a significant positive."

In other sector news:

+ Target ( TGT ) rose Tuesday after the discount retailer ramped up its profit forecasts, projecting adjusted Q4 net income in a range of $1.30 to $1.40 per share, up from its prior view expecting $1.05 to $1.25 per share and topping the Capital IQ consensus by at least $0.08 per share. It also sees non-GAAP FY18 net income between $5.15 to $5.45 per share, blowing past the $4.36 per share Street view.

+ Shares of Helios and Matheson Analytics ( HMNY ) climbed over 8% at one point on Tuesday after disclosing in a regulatory filing that its MoviePass unit had more than 1.5 million paying subscribers through Jan. 7.

- Build-A-Bear Workshop ( BBW ) slumped over 12% today after guiding its Q4, FY17 sales below analyst estimates.

- Simply Good Foods ( SMPL ) slipped after reporting fiscal Q1 net income of $0.14 per share during the three months ended Nov. 25, rising a penny over year-ago levels but still coming up $0.02 per share under the two-analyst consensus. Net sales rose 6.8% to $106.6 mln, beating the $105.8 mln analyst mean.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Business , Commodities
Referenced Symbols: AMZN , TGT , HMNY , BBW , SMPL


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