Consumer Sector Update for 08/15/2019: W,VIPS,BABA,TPR

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Top Consumer Stocks

WMT +5.41%

MCD +0.30%

DIS +0.35%

CVS +0.67%

KO +1.60%

Consumer stocks were ending broadly mixed, with shares of consumer staples companies in the S&P 500 climbing more than 1.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were falling almost 0.2%.

Among consumer stocks moving on news:

(-) Wayfair ( W ) fell 4.6% after the online furnishings seller Thursday priced an upsized $825 million private placement of 1.00% convertible senior notes due 2026. The notes have an initial conversion price of $148.48 per share, representing a 32.5% premium over Wednesday's closing price for its Class A common stock. The offering was increased in size by $75 million shortly before pricing.

In other sector news:

(+) Vipshop Holdings ( VIPS ) was up more than 15% on Thursday after the luxury e-commerce company reported non-GAAP Q2 net income of RMB1.58 per American depository share, up from RMB0.84 per ADS during the same quarter last year and beating the Capital IQ by RMB0.56 per ADS. Revenue grew 9.7% to RMB22.7 billion, also exceeding the RMB21.6 billion Street view.

(+) Alibaba Group ( BABA ) rose 3% after reporting fiscal Q1 financial results easily topping analyst estimates. The Chinese e-commerce company earned RMB12.55 per American depositary share, excluding one-time items, on RMB114.92 billion in revenue, exceeding the Capital IQ consensus expecting non-GAAP net income of RMB10.46 per ADS on RMB111.65 billion.

(-) Tapestry ( TPR ) tumbled 23% to its lowest share price since 2017 after the luxury accessories company generated $1.51 billion in sales during its fiscal Q4 ended June 29, up from $1.48 billion during the same quarter last year but still missing the Capital IQ consensus expecting $1.53 billion in quarterly sales.

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: W , VIPS , BABA , TPR

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