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Consumer stocks were broadly mixed today, with shares of consumer staples companies in the S&P 500 slipping just under 0.1% in recent trading, reversing a small rise earlier in the session, while shares of consumer discretionary firms in the S&P 500 climbed almost 0.7% this afternoon.
Among consumer stocks moving on news:
- Abercrombie & Fitch Company ( ANF ) was down over 8% shortly ahead of Friday's closing bell, improving somewhat on a nearly 11% decline previously this afternoon despite the apparel retailer this morning narrowing its Q1 net loss compared with the year-ago period and also coming in smaller than the analyst consensus. Excluding one-time items, the company recorded a $0.56 per share net loss for the three months ended May 5, improving on a non-GAAP $0.91 per share loss during the same quarter last year levels and beating the Capital IQ averaged call expecting an adjusted net loss of $0.77 per share. Revenue rose to $730.9 million from $661.1 million last year and also exceeding the $695.7 analyst Street view.
In other sector news:
+ lululemon athletica ( LULU ) hit a new record high on Friday, jumping almost 16% to a best-ever $121.41 a share after reporting better-than-expected Q1 financial results and issuing upbeat forecasts for the current quarter and its FY18 ending next January. The yoga-wear company earned $0.55 per share during the three months ended April 29, up from $0.23 per share during the same quarter last year and beating the Capital IQ consensus by $0.09 per share. Revenue grew 24.9% year over year to $649.7 million from $520.3 million during the year-ago period and also topping the $617 million analyst mean. The company also is projecting Q2 net income in a range of $0.46 to $0.48 per share on $660 million to $665 million in revenue during Q2, exceeding the Street view by at least $0.02 per share and $15 million, respectively. It also sees FY18 net income coming in between $3.10 to $3.18 per share on $3.04 billion to $3.075 billion in revenue. Analysts, on average, are expecting lululemon this year to earn $3.09 per share on $3.02 billion in revenue.
+ Ulta Beauty ( ULTA ) still was almost 1% higher Friday afternoon, turning around a nearly 5% slide earlier in the session that followed the cosmetics retailer issuing net income and sales forecasts for the current fiscal reporting period missing analyst estimates. Ulta is projecting net income for the three months ending in early August in a range of $2.35 to $2.40 per share, improving on $1.83 per share profit in the year-ago period but still lagging the Capital IQ consensus by at least $0.08 per share. It also sees Q2 revenue rising to $1.475 billion to $1.488 billion from $1.29 billion last year but also trailing Street views by at least $4 million. The below-consensus outlook upstaged better-than-expected Q1 results, including net income of $2.70 per share during the three months ended May 5 compared with the $2.48 per share analyst mean. Revenue rose to $1.543 billion from $1.314 billion last year to exceed the $1.518 billion consensus call. Comp-store sales increased 8.1% versus expectations for a 6.9% rise.
- Costco Wholesale ( COST ) declined Friday, sliding as much as 2%, despite the warehouse retailer late Thursday reporting fiscal Q3 financial results eclipsing Wall Street estimates. Net income improved to $1.70 per share during the 12 weeks ended May 13 compared with a $1.59 per share profit in the year-ago period and beating the Capital IQ consensus by $0.02 per share. Net sales also rose to $32.36 billion from $28.86 billion during the same quarter last year ago to exceed the $31.9 billion Street view. Q3 comparable-store sales climbed 10% over the March-to-May fiscal period in 2017.
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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.
