Top Consumer Stocks
Consumer stocks are lower, with shares of consumer staples companies in the S&P 500 declining just 0.2% while shares of consumer discretionary firms in the S&P 500 are more than 0.8% lower in afternoon trade.
In company news, Bassett Furniture Industries Inc. ( BSET ) is down 8.8% at $14.64 a share, sliding as low as $14.28 after reporting Q3 net income of $0.05 per share, down 77% from a $0.21 per profit in the year-ago quarter.
Net sales rose 20% year over year to $77.2 million, including an 18% jump for the retailer's wholesale segment and a 12% increase for its retail segment. Gross profit, however, slipped to 50.2% of net sales from 52.5% during the same quarter last year.
Analyst estimates were not available for comparison.
In other sector news,
(+) NAUH, (+3.2%) Q1 loss of $0.01 per share is unchanged from year-ago net loss and matched the Capital IQ consensus. Revenue rises 4.7% year over year to $30.9 mln, beating estimates by $320,000. Headcount climbs 3.8% over last year to 10,743 students.
(-) ZLC, (-8.6%) Registers 11.06 mln shares now owned by Z Investment Holdings following the exercise of 6.4 mln A warrants and 4.7 mln B warrants at $2 each that were issued by the jeweler as an equity kicker to a May 2010 senior secured loan.
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