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GPS

Consumer Sector Update for 05/20/2016: HIBB,GPS,NWY

Top Consumer Stocks

WMT +0.95%

MCD -1.66%

DIS +1.33%

CVS -0.94%

KO -0.36%

Consumer stocks were mixed in afternoon trade, with shares of consumer staples companies in the S&P 500 slipping about 0.3 today% while shares of consumer discretionary firms in the S&P 500 were advancing around 0.8%.

In company news, Hibbett Sports Inc. ( HIBB ) was climbing in Friday trading after the sporting-goods retailer today reported Q1 net income exceeding Wall Street expectations as net sales rose almost 5% during the February-to-April period over year-ago levels.

The company earned $1.22 per share during the 13 weeks ended April 30, improving on a $1.09-per-share profit during the same quarter last year and beating the Capital IQ consensus by $0.02 per share. Revenue rose 4.6% over last year to $282.1 million, lagging the Street view by around $3.47 million. Sales at stores open more than one year climbed 1.1% following a 0.9% decline in comp-store sales last year.

Hibbett also reaffirmed its FY17 outlook, forecasting per-share earnings in a range of $2.90 to $3.04, bridging the $2.98 per share consensus. It also sees comp-store sales rising in low single digits.

HIBB shares were ahead over 7% at $34.57 each, easing from a session high of $35.42 a share soon after today's opening bell.

In other sector news,

(+) GPS, (+4.1%) Reports Q1 EPS of $0.32 and 6% decline in net sales to $3.44 bln were in-line with May 6 pre-announcement. Closing 75 stores. Reduced to Hold from Buy at BB&T Capital Markets. Price targets trimmed at FBR Capital, Mizuho and Telsey Advisory Group but target raised at Wedbush.

(-) NWY, (-43.7%) Reports surprise Q1 GAAP net loss of $0.09 per share compared with two-analyst consensus expecting $0.04 per share profit. Net sales fall 3.3% to $216.04 mln, trailing Street view by $8.25 mln. Wunderlich downgrade to Hold, price target cut by $1.25 to $2.25 a share.

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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