Markets

Consumer Sector Update for 03/07/2018: PSMT, GOLF, SJM

Top Consumer Stocks

WMT, -1.2%

MCD, +0.4%

DIS, -1.5%

CVS, -0.3%

KO, -0.4%

Consumer stocks were mainly lower ahead of closing today, with shares of consumer staples companies in the S&P 500 slipping more than 0.9% this afternoon while shares of consumer discretionary firms in the S&P 500 were declining more than 0.7%.

Among consumer stocks moving on news:

PriceSmart ( PSMT ) rose more than 1% after it said February sales increased 6.6% to $228.9 million from $214.6 million in February a year earlier. For the six months ended Feb. 28 net sales increased 4.9% to $1.56 billion from $1.49 billion in the same period last year. For the five weeks ended March 4, comparable store sales increased 4.4% compared to the same five-week period last year. For the twenty-six-week period, comparable warehouse sales increased 3.2%.

In other sector news,

(+) Acushnet ( GOLF ) rose nearly 2% after it reported a Q4 swing to a profit on revenue that topped Street views.

(-) JM Smucker ( SJM ) fell 0.4% following a report on Bloomberg that said the branded food and beverage products company may sell its baking brands, including Pillsbury. The report cited unidentified sources. The Orrville, Ohio-based company is working with an adviser as it weighs options for the unit, which also includes the Robin Hood flour and cereal brand and Martha White baking mixes, the business news agency reported, citing those sources.

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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