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Consumer Sector Update for 01/04/2018: COST,LW,WWE,M,JCP

Top Consumer Stocks

WMT +0.11%

MCD +0.57%

DIS -0.37%

CVS +2.86%

KO +1.60%

Consumer stocks stayed on positive ground today, with shares of consumer staples companies in the S&P 500 climbing almost 0.3% in recent trading while shares of consumer discretionary firms in the S&P 500 were hanging on to a more than 0.3% gain.

Among consumer stocks moving on news:

Costco Wholesale ( COST ) has turned lower in late Thursday trading, giving back a nearly 1% gain earlier in today's session that followed the warehouse retailer last night reporting a 14.3% increase in net sales to $14.94 bln during the five weeks ended Dec. 31 compared with $13.07 bln in sales during the same period in 2016. The company also said sales at stores open at least 12 months rose 11.5% compared with year-ago levels while online sale grew 33% year-over-year over the same five-week span.

In other sector news:

+ Lamb Weston Holdings ( LW ) climbed to a record high on Thursday after the frozen vegetable company today reported stronger-than-expected fiscal Q2 net income and raised its FY18 outlook. Non-GAAP earnings during the three months ended Nov. 26 fell to $0.54 per share from $0.63 per share during the year-ago period but still beating the Capital IQ consensus by $0.01 per share. Net sales grew 4% over the same quarter last year to $825 mln, also surpassing the $815.3 mln analyst mean.

+ World Wrestling Entertainment ( WWE ) was higher today after analysts at Wells Fargo today raised their investment recommendation for the company's stock to Outperform from Market Perform.

- Macy's ( M ) was lower Thursday, at one point sinking almost 11% to a session low of $23.44 a share, after the department-store retailer narrowed its FY17 sales forecast to a new range expecting a 2.4% to 2.7% decline on an owned basis and same-store sales dropping between 2.0% to 2.3% on an owned plus licensed basis. The company today also disclosed plans to close another 11 under-performing stores, which coupled with other "organizational efficiency" initiatives should save the company around $300 mln per year. It also sees adjusted FY17 earnings of $3.11 to $3.21 per share, matching the $3.11-per-share Capital IQ consensus call.

- J.C. Penney Co. ( JCP ) fell Thursday despite the retailer today reporting a 3.4% increase in same-store sales during the nine weeks ended Dec. 30 compared with year-ago levels. It also reiterated its FY18 outlook expecting adjusted net income in a range of $0.02 to $0.08 per share and a 0% to 1% decline in comparable-store sales this year. Analysts, on average, are expecting the company to earn $0.08 during FY18 after excluding one-time items.

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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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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