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Consumer Sector Update for 02/22/2018: BLMN,W,GIL

Top Consumer Stocks

WMT +1.54%

MCD +1.25%

DIS +0.57%

CVS -0.28%

KO +1.02%

Consumer stocks were mostly higher, with shares of consumer staples companies in the S&P 500 posting a nearly 1.0% gain this afternoon while shares of consumer discretionary firms in the S&P 500 advanced more than 0.6%.

Among consumer stocks moving on news:

+ Bloomin' Brands ( BLMN ) climbed to a nearly three-year high on Thursday, rising 10% to its best price since late March 2015 at $24.22 a share, after the restaurant company exceeded analyst estimates on its Q4 top and bottom lines. Excluding one-time items, the company rose to $0.41 per share from $0.29 per share during the same quarter last year and beating the Capital IQ consensus by $0.02 per share. Net sales rose 8.3% year over year to $1.09 billion during the 14 weeks ended Dec 31, also topping the $1.05 billion Street view. The company is projecting adjusted FY18 net income in a range of $1.38 to $1.45 per share, straddling the $1.40 per share analyst consensus.

In other sector news:

- Wayfair ( W ) stumbled more than 20% lower on Thursday, dropping to an intra-day low of $76.26 a share, after the ecommerce retailer reported a larger Q4 net loss than Wall Street was expecting. Excluding one-time items, the company recorded a $0.58 per share net loss during the three months ended Dec. 31 compared with a $0.34 per share during the year-ago period and missing the Capital IQ consensus expecting a $0.52 per share adjusted net loss. Revenue rose to $1.44 billion from $984.6 million last year, exceeding the $1.36 billion Street call.

- Gildan Activewear ( GIL ) was trading lower Thursday, with shares of the Canadian apparel company falling almost 4% to a session low of $29.16 a share on the New York Stock Exchange after the company reported adjusted Q4 earnings of $0.31 per share during the October-to-December fiscal period, down from $0.32 per share during the corresponding quarter last year and matching analyst projections. Consolidated net sales increased 11.2% during the three months ended Dec. 31 over the year-ago period to $653.7 million, beating the $623.75 analyst mean. The company also approved a 20% increase in its quarterly dividend over its most recent distribution to $0.112 per share, payable on April 2 to shareholders of record on March 8.

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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