Top Consumer Stocks
Consumer stocks were broadly lower today, with shares of consumer staples companies in the S&P 500 ( XLP ) sinking almost 1.8% this afternoon while shares of consumer discretionary firms ( XLY ) in the S&P 500 were declining nearly 0.7%.
Among consumer stocks moving on news:
+ Perry Ellis International ( PERY ) climbed to a seven-year high on Thursday, rising almost 7% to touch its best share price since late 2011 at $28.50 apiece after the apparel and accessories company reporting Q1 net income and revenue topping Wall Street estimates. Excluding one-time items, the company earned $0.78 per share during the three months ended May 5, down from $0.83 per share during the same quarter last year but still beating the Capital IQ consensus by $0.14 per share. Net sales increased to $255 million from $242 million last year and also exceeded the $233.5 million analyst mean. Perry Ellis also reiterated its in-line FY19 outlook, projecting net income in a range of $1.80 to $1.90 per share on between $855 million to $865 million in annual sales. Analysts, on average, are expecting the company to earn $1.90 per share, ex items, on $860.9 million in revenue.
In other sector news:
+ Tilly's ( TLYS ) rose as much as 18% on Thursday after the retailer posted Q1 financial results and issued Q2 guidance exceeding Wall Street expectations. The company earned $0.04 per share during the three months ended May 5, reversing $0.01 per share net loss during the same quarter last year and beating the Capital IQ consensus by $0.03 per share. Revenue rose to $123.6 million from $120.9 million during the year-ago period, also topping the $121.86 million analyst mean. Looking forward, Tilly's is projecting Q2 earnings in a range of $0.24 to $0.28 per share on between $153 million to $157 million in revenue. Analysts, on average, are looking for the company to earn $0.12 per share on $141.84 million in revenue.
+ PVH ( PVH ) was about 2% higher in recent Thursday trading, easing somewhat from a more than 3% gain earlier in the session, after the clothing company reported Q1 financial results topping analyst forecasts and issued Q2 and FY18 earnings guidance also surpassing Wall Street expectations. The company whose brands include Calvin Klein and Tommy Hilfiger late Wednesday reported non-GAAP net income of $2.36 per share during the three months ended May 7, up from $1.65 per share during the same quarter last year and beating the Capital IQ consensus by $0.11 per share. Q1 net sales also exceeded the analyst mean, totaling $2.31 billion in sales compared to the expected $2.28 billion. Looking forward, the company is expecting Q2 non-GAAP net income in a range of $2.05 and $2.10 per share and FY18 earnings between $9.05 to $9.15 per share. Analysts, on average, are looking for adjusted Q2 earnings of $2.01 per share and non-GAAP FY18 net income of $9.12 per share.
- Guess? (GES) dropped as much as 12% on Thursday despite the apparel company matching analyst projections with its adjusted Q1 net loss and net sales exceeding Street views. Excluding one-time items, the company reported a non-GAAP net loss of $0.23 per share, improving on its year-ago loss by $0.01 per share and in-line with the Capital IQ consensus for the three months ended May 5. Net sales rose to $521 million from $454.3 million during the year-ago period and topping the $508 million analyst mean. For the current quarter, the company is projecting a sales increase of between 14% to 15.5% and rising in a range of 8.5% to 9.5% during its FY19. It also sees adjusted Q2 earnings at $0.27 to $0.30 per share and rising $0.88 to $0.99 per share in FY19. Analysts, on average, are expecting the company to earn $0.30 per share on 8.4% year-over-year sales growth to $621.7 million during Q2 and $0.97 per share on 7.6% sales growth to $2.54 billion during its FY19.