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Consumer Sector Update for 06/30/2017: AOBC,WMAR,DEST


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Consumer stocks continued to add to their Friday advance, with shares of consumer staples companies in the S&P 500 rising about 0.4% this afternoon while shares of consumer discretionary firms in the S&P 500 jumped out to more than an 0.8% increase.

In company news, American Outdoor Brands ( AOBC ) stumbled Friday, falling as much as 10.5% to a session low of $21.41 a share after the firearms manufacturer issued Q1 and FY18 guidance trailing analyst projections and upstaging above-consensus financial results for the final three months of its recently concluded fiscal year.

Excluding one-time items, the company is expecting per-share earnings in a range of $0.07 to $0.12, trailing the Capital IQ consensus looking for a $0.31 per share quarterly profit. It also sees net sales for the three months ending late next month coming in between $140 million to $150 million. Analysts, on average, are modeling $179.60 million in Q1 sales.

For FY18, American Outdoor is projecting net sales of $750 million to $790 million compared with the $832.5 million analyst mean. It also forecast non-GAAP net income this year of $1.42 to $1.62 per share, in-line with $1.62 per share consensus.

The company last night also reported Q4 non-GAAP earnings of $0.57 per share and a 3.7% sales increase to $229.2 million, topping the Street view looking for $0.38 per share on $210.82 million in net sales.

In other sector news,

(+) WMAR, Agrees to $338 mln private-equity buyout offer, with Monomoy Capital Partners paying $12.97 in cash for each West Marine share, a 32% premium over their average price during the past 30 days.

(-) DEST, Merger partner Orchestra Premaman reports a FY17 net loss of EUR33.6 mln, reversing a EUR17.7 mln profit for French retailer during the prior-year period. Net sales rise 8.7% to EUR608.3 mln.

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: AOBC , DEST



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