Consumer Sector Update for 02/17/2017: PERF,TRUE,AAN

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Consumer stocks extended their small gains this afternoon, with shares of consumer staples companies in the S&P 500 posting a nearly 0.6% advance while shares of consumer discretionary firms in the S&P 500 were rising almost 0.2%.

In company news, Perfumania Holdings ( PERF ) was moderately lower in late Friday trade, recovering most of its steep slide earlier today that followed reports the retailer had hired advisers to assist with exploring strategic alternatives, including a potential debt restructuring.

The company - which has experienced a drop in customer traffic at malls in recent years - also is looking to meet with its landlords in a bid to exit some of its 313 standalone shops, people familiar with the matter told Reuters.

Perfumania has been trying to turn around its business by promoting e-commerce sales and boosting its technology.

PERF shares were down almost 3% at $1.85 each shortly before Friday's closing bell, giving back a small gain during the past hour after earlier bouncing back from a 13% decline and a session low of $1.65 earlier today.

In other sector news,

(+) TRUE, Narrows adjusted Q4 net loss to $0.01 per share from $0.06 in year-ago period and exceeding analyst mean expecting $0.05 per share net loss. Revenue rises 17% to $74.1 mln, topping $71.32 mln Street view. Projected Q1, FY17 revenue both beat respective consensus estimates.

(-) AAN, Q4 net sales fall 3.2% to $794.95 mln, missing the $814.8 mln Capital IQ consensus and upstaging above-consensus $0.50 per share Q4 profit. Sees FY17 net income between $2.15 to $2.40 per share, lagging Street by at least $0.06 per share.

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: TRUE , AAN

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