Consumer Sector Update for 03/08/2018: COST,BURL,SSI

Top Consumer Stocks

WMT +0.57%

MCD +0.74%

DIS +0.51%

CVS +0.90%

KO +1.04%

Consumer stocks were trending higher Thursday, with shares of consumer staples companies in the S&P 500 rising over 0.5% in afternoon trading while shares of consumer discretionary firms in the S&P 500 were climbing nearly 0.3.

Among consumer stocks moving on news:

- Costco Wholesale Corp ( COST ) declined Wednesday after the warehouse retailer late Wednesday reported fiscal Q2 adjusted earnings trailing Wall Street expectations. The company earned $1.59 per share on a GAAP basis during the 12 weeks ended Feb. 18, up from $1.17 per share during the prior-year period. Excluding a $0.17 per share income tax windfall resulting the recent changes in federal tax law, it earned $1.42 per share, a penny shy of the Capital IQ consensus. Net sales rose to $32.99 billion from $29.76 billion last year, beating the $32.73 billion analyst consensus.

In other sector news:

+ Burlington Stores ( BURL ) was sharply higher during Thursday trading after the apparel retailer reported non-GAAP Q4 net income of $3.59 per share, crushing the Capital IQ consensus call expecting $2.09 per share. Net sales climbed to $1.94 billion from $1.68 billion last year, also beating the $1.89-billion Street view. The company is projecting total FY18 sales growth in a range of 9% to 10% compared with FY17 and excluding the 53rd week. It also sees sales rising between 9.5% to 10.5% during the current quarter while Q1 comparable-store sales are expected to increase between 2% to 3%.

+ Stage Stores ( SSI ) was hanging on to moderate gains Thursday afternoon, drifting back from a nearly 8% rise to a session high of $2.05 a share that followed the company reporting adjusted Q4 net income of $0.45 per share, more than doubling the year-ago non-GAAP profit of $0.20 per share. Net sales during the three months ended Feb. 3 slipped to $549.4 million from $454.4 million during the same period last year. Comparable sales increased 1.1% during the quarter, reversing an 8.5% decline last year. Stage Stores also is projecting FY18 net sales in a range of $1.61 billion and $1.64 billion and a GAAP net loss between $1.35 and $0.95 per share.

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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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