Markets
CAL

Consumer Sector Update for 05/27/2016: BIG,CAL,BGSF

Top Consumer Stocks

WMT -0.08%

MCD -0.47%

DIS +0.36%

CVS +0.05%

KO +0.20%

Consumer stocks were still mostly higher in late trade, with shares of consumer staples companies in the S&P 500 increasing about 0.1% while shares of consumer discretionary firms in the S&P 500 were posting a 0.4% gain.

In company news, discount retailer Big Lots ( BIG ) was trading near its new record high late Friday after earlier reporting Q1 results abvove Street views and raising its earnings guidance for the 12 months ending next January.

Excluding one-time items, the company earned $39.9 million, or $0.82 per diluted share, improving on a $33.0 million adjusted profit last year and topping the Capital IQ consensus by $0.12 per share. Net sales rose 2.3% over year-ago levels to $1.31 billion, also exceeding analyst estimates by around $20 million. Same-store sales were up about 3% during the quarter.

For FY17, the company is looking for non-GAAP net income in a range of $3.35 to $3.50 per share, up $0.15 per share from its outlook and skating past the Street view looking for $3.31 per share.

BIG shares were up nearly 14% at $50.66 each, just under a best-ever $50.90 a share established in recent trade.

In other sector news,

(+) CAL, Raised to Buy from Hold with a $26 price target at BB&T Capital Markets. Last night, reports Q1 EPS of $0.41, missing Street view by $0.02. Revenue falls 2.9% to $584.7 mln, also lagging $610.58 mln Street viw.

(-) BGSF, Prices $15.1 mln public offering of 1.075 mln shares at $14 apiece, a 14.4% discount to Thursday's closing price.

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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