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Consumer Sector Update for 07/19/2019: SKX,RRGB,YGYI


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Top Consumer Stocks

WMT +0.11%

MCD -0.38%

DIS -0.50%

CVS -0.38%

KO -0.47%

Consumer stocks were mixed, with shares of consumer staples companies in the S&P 500 slipping fractionally while shares of consumer discretionary firms in the S&P 500 were about 0.1%.

Among consumer stocks moving on news:

(+) Skechers USA ( SKX ) climbed 12.5% on Friday after the footwear company reported a 69% increase in Q2 attributable net income over the same April-to-June quarter to $0.49 per share and an 11% rise in net sales to $1.26 billion, exceeding the Capital IQ consensus expecting a $0.33 per share non-GAAP profit on $1.22 billion in revenue. It also projected Q3 financial results topping Street views.

In other sector news:

(+) Red Robin Gourmet Burgers ( RRGB ) was hanging on to a nearly 12% gain after the restaurant chain late Thursday confirmed receiving an unsolicited about $520 million buyout offer from Vintage Capital Management. Under terms of the conditional bid, the private-equity firm would pay $40 in cash for each Red Robin share, representing a 30.7% premium over Thursday's closing price.

(=) Youngevity International ( YGYI ) was unchanged after Friday saying its recently acquired Khrysos Industries commercial hemp company has secured a one-year contract to supply water-soluble cannabidiol isolate to an unidentified client. Product shipments are expected to begin in August, Youngevity said, adding the deal is seen boosting its revenue by as much as $19 million over the next year for the health and nutrition products company.

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: SKX , RRGB , YGYI



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