Consumer Sector Update for 09/11/2017: DEST, NVFY, GRPN

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Top Consumer Stocks

WMT +0.43%

MCD +1.06%

DIS +0.20%

CVS +0.05%

KO +0.55%

Consumer stocks were climbing this afternoon, with shares of consumer staples companies in the S&P 500 adding about 0.7% in value today while shares of consumer discretionary firms in the S&P 500 were advancing almost 0.6%.

In company news, Destination Maternity Corp ( DEST ) rose Monday, topping out at $1.32 a share after the struggling retailer said Friday that board member Allen Weinstein agreed to become interim chief executive officer, effective immediately.

He replaces Anthony Romano, who resigned last week following weak financial results that included its Q2 net loss continuing to widen on a GAAP basis as sales declined compared with year-ago levels.

Weinstein has been a director on the company's board since January 2010 and is currently the executive board chairman at Villa, a privately held footwear and apparel retailer. He previously was the chief executive at Body Central Corp between August 2009 to August 2012. Prior to that, Weinstein was the chief merchandising officer at The Cato Corp since 1997.

In other sector news,

(+) NVFY, (+11.6%) Citing strong customer demand, generates a record $1 mln profit during the summer months of June, July and August.

(-) GRPN, (-0.7%) Board chairman and company co-founder Eric Lefkofsky last week sells 1.5 mln shares of Groupon common stock through a pair of transactions of 750,000 shares each and producing about $6.59 mln in gross proceeds. Following the sale, he still owns almost 92.4 mln shares through a family investment vehicle.

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This article appears in: Business , Commodities
Referenced Symbols: DEST , NVFY , GRPN

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