Consumer Sector Update for 05/05/2017: REV,HOTR,NCMI

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Top Consumer Stocks

WMT +0.03%

MCD +0.01%

DIS +0.13%

CVS -0.53%

KO -0.02%

Consumer stocks were narrowly higher, with shares of consumer staples companies in the S&P 500 climbing almost 0.1% in value today while shares of consumer discretionary firms in the S&P 500 were advancing nearly 0.2%.

In company news, Revlon Inc ( REV ) dropped to a four-year low on Friday after it swung to a large net loss during its January-to-March reporting period as combined revenue for the cosmetics company following its recent acquisition of Elizabeth Arden declined about 6% compared with the year-ago quarter.

Excluding one-time items, Revlon reported a $0.23 per share net loss for the three months ended March 31, reversing a $0.25 per share non-GAAP profit during the same quarter last year. Revenue rose 35% over the company's reported levels last year to $595 million, although that was 6% less than the combined revenue of Revlon and Elizabeth Arden in the year-ago period.

REV shares recently were down over 22% this afternoon, recovering somewhat from a 27.5% retreat to their lowest price since February 2013 at $18.30 a share.

In other sector news,

(+) HOTR, (+53.7%) Completes $6 mln private placement of debentures and share-purchase warrants. The company expects to use $5 mln of net proceeds to repay 12% Florida Mezzanine Financing notes, with remainder used for working capital, new store development.

(-) NCMI, (-25.2%) Q1 net loss of $0.08 per share is $0.03 wider than the consensus estimate. Revenue falls 5.6% from last year to $71.9, also missing the $73.82 mln consensus. Projected FY17 revenue of $422.0 mln to $442.0 mln trails $457.88 mln consensus.

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: REV , NCMI

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