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Consumer Sector Update for 05/09/2016: IMKTA,W,ASCMA

Top Consumer Stocks

WMT +1.05%

MCD +0.43%

DIS -0.38%

CVS +1.03%

KO -0.10%

Consumer stocks were posting solid gains, with shares of consumer staples companies in the S&P 500 climbing nearly 0.6% while shares of consumer discretionary firms in the S&P 500 were posting a 0.4% gain.

In company news, Ingles Markets ( IMKTA ) was climbing Monday after the grocery and convenience store chain today reported improved fiscal Q2 financial results compared with the same quarter last year despite falling gasoline prices that made year-over-year comparisons difficult.

The company earned $14.4 million, or $0.71 per share, up narrowly from $14.3 million during the same quarter last year. Net sales grew 1% over year-ago levels to $924 million. No analyst estimates were available.

It said the lower gasoline sales were offset by increased sales of other products and by the positive effect of an early Easter holiday during 2016. Excluding those factors, sales at stores open more than 12 months rose 1.6% over the year-prior period.

IMKTA shares were up almost 9% at $40.38, easing from their session high earlier today at $40.65 a share..

In other sector news,

(+) W, (+12.4%) Q1 Revenue rises 76.1% over last year to $747.3 mln, beating analyst mean by $52.1 mln. Also reports adjusted net loss of $0.36 per share, coming in $0.02 wider than Street view.

(-) ASCMA, (-15.7%) Reports Q1 net loss of $23.2 mln, or $1.89 per share, expanding on a $0.73 per share loss last year but matching analyst expectations. Revenue rose 3.9% to $143.3 mln, beating the Capital IQ consensus by around $1.2 mln.

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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