Top Consumer Stocks
Consumer stocks were lower in recent trade, with shares of consumer staples companies in the S&P 500 falling 0.8% this afternoon while shares of consumer discretionary firms in the S&P 500 were down 0.1%.
Among consumer stocks moving on news:
(+) Steve Madden (SHOO) climbed 4% after the footwear company Thursday reported adjusted Q1 net income of $0.42 per share, rising $0.06 per share over the year-ago period and exceeding the Capital IQ consensus by $0.05 per share. Net sales increased 5.6% year-over-year to $410.9 million compared with $389.0 million during the same quarter last year, also topping the $404.3 million analyst mean.
In other sector news:
(+) Boston Beer Company (SAM) rose 8% after late Wednesday reporting adjusted Q1 net income and revenue exceeding year-ago levels and also topping Wall Street expectations. The brewer earned $1.87 per share during the quarter, more than trebling its $0.55 per share non-GAAP profit during the same quarter last year and beating the Capital IQ by $0.99 per share. Revenue jumped 32% year-over-year to $251.7 million, also exceeding the $232.19 million Street view.
(-) Packaging of America (PKG) was down fractionally this afternoon. The paper-based packaging company reported a 2.5% increase in its Q1 sales over year-ago levels, rising to $1.73 billion during the three months ended March 31 but still trailing the Capital IQ consensus expecting $1.77 billion. The company also projected Q2 net income lagging analyst expectations.