Top Consumer Stocks
The gap between winning and losing consumer stocks continued to widen this afternoon, with shares of consumer staples companies in the S&P 500 climbing about 0.3% while shares of consumer discretionary firms in the S&P 500 were falling more than 0.5%.
In company news,
Ethan Allen Interiors ( ETH ) at one point on Thursday dropped more than 9% to a session low of $27.65 a share after the furnishings retailer projected fiscal Q1 earnings and sales trailing Wall Street expectations.
Excluding one-time items, the company is now expecting to report adjusted net income between $0.27 to $0.28 per share during the three months ended Sept. 30, lagging the Capital IQ consensus by at least $0.17 per share. It also sees around $181.3 million in sales during the quarter, also missing the $198.4 million Street estimates.
The company estimates disruptions through large parts of the southern United States caused by hurricanes this summer coupled with first-run production of new products likely reduced sales during the July-to-September period betweeen 7% to 8% compared with its earlier guidance and undercut expected earnings by $0.14 to $0.15 per share. It also said total written orders from the its retail segment increased 1.7% during the quarter instead of the expected 2.5% rise without the impact of hurricanes in August and September.
In other sector news,
(+) SPAR, (+17.2%) Climbs to a 10-year-high after announcing plans to reach $1 bln in sales by 2020 - representing a 12% compound yearly growth rate from $506.8 mln in 2014 - and also becoming the No. 1 or No. 2 company in each of its vehicle markets.
(-) JILL, (-51.4%) Falls to a record low after the company forecast non-GAAP net income between $0.08 to $0.10 per share, trailing the Capital IQ consensus by at least $0.09 per share. It also sees total company comparable sales for the quarter falling between 3% to 5% as well as a moderate decline in gross margin as compared to last year.