Consumer Sector Update for 12/07/2017: DLTH,VNCE,BRFS

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Consumer stocks were ending broadly mixed this afternoon, with shares of consumer staples companies in the S&P 500 falling almost 0.7% while shares of consumer discretionary firms in the S&P 500 were rising nearly 0.4%.

In company news, Duluth Trading ( DLTH ) tumbled to a 22-month low on Thursday, falling to their lowest price since February 2016 at $16.00 a share after the clothier reported Q3 financial results lagging Wall Street expectations, including a surprise net loss, and also forecast downbeat FY17 earnings and sales.

The company reported a net loss of $0.03 per share during the three months ended Oct. 29, reversing a $0.01 per share profit during the same quarter last year and missing the Capital IQ consensus expecting net income of $0.02 per share. Net sales rose 25% to $83.7 million, also falling short of the $84.01 million analyst mean.

Duluth Trading also reaffirmed its full-year outlook expecting net income in a range of $0.66 to $0.71 per share and sales in a range of $455 million to $465 million. Analysts, on average, are looking for the company to earn $0.69 per share on $465.8 million in sales this year.

In other sector news,

(+) VNCE, Reports surprise Q3 profit of $0.41 per share, down from a split-adjusted $0.68 per share during year-ago period but still topping the lone analyst estimate expecting a $0.11 per share net loss, if comparable. Net sales rise 4.1% to $76.0 mln, beating the single-analyst call expecting $59.4 mln.

(-) BRFS, Equity stake held by investment funds and portfolios held by its GIC Group economic group Dec. 4 falls to 40.62 mln ordinary shares, slipping just under the 5% threshold.

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This article appears in: Business , Commodities
Referenced Symbols: DLTH , VNCE , BRFS

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