Consumer Sector Update for 04/17/2018: BIG,PEP

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Consumer stocks were broadly mixed Tuesday, with shares of consumer staples companies in the S&P 500 sinking over 0.1% in afternoon trading while shares of consumer discretionary firms in the S&P 500 were advancing more than 1.7%.

In industry news:

Same-store sales at 20 of the largest US chain retailers rose up 3.0% during the seven days ended April 14 compared with the same week in 2017, climbing 0.1 percentage points over last week's 2.9% year-over-year advance, according to the Redbook survey. Month-to-date sales also picked up strength, up 0.5% over the first 14 days in March and matching the best pace for sales growth since July 2017 although the year-over-year increase for month-to-date sales eased by 0.4 percentage points to 3.0%, the slowest rate in five weeks.

Among consumer stocks moving on news:

+ Big Lots ( BIG ) rose over 2% on Tuesday after saying David Campisi was officially retiring from the discount retailer. Campisi has been on a leave of absence for medical reasons since December and Big Lots said he decided to retire to fully focus on his health while chief operating officer Lisa Bachmann and chief financial officer Timothy Johnson will continue to work closely with the company's executive leadership team and the board of directors to carry out Campisi's executive responsibilities. The company has started the formal search process to identify a permanent successor and is also in the process of retaining an executive search firm to assist with identifying and reviewing internal and external candidates

In other sector news:

- Pepsico ( PEP ) slumped almost 2% on Tuesday after analysts at Goldman Sachs lowered their investment rating for the soft-drink bottler to Sell from Neutral.

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: BIG , PEP

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