Consumer Sector Update for 06/02/2017: BOOT,LULU,RH

Top Consumer Stocks

WMT -0.46%

MCD +0.79%

DIS -0.76%

CVS +0.81%

KO -0.12%

Consumer stocks were trading on both side of the ledger Friday, with shares of consumer staples companies in the S&P 500 falling less than 0.1% while shares of consumer discretionary firms in the S&P 500 were climbing over 0.3% this afternoon.

In company news, Boot Barn Holdings ( BOOT ) plunged during Friday trading, with shares of the footwear retailer dropping almost 19% to a new, record low of $6.02 apiece after last night reporting Q4 financial results trailing Wall Street estimates.

Excluding one-time items, the company earned $0.12 per share during the three months ended March, improving on a $0.09 per share adjusted profit during the same quarter last year but still coming up $0.05 per share shy of the Capital IQ consensus. Net sales increased 9.1% over year-ago levels to $163 million but also missed the $165.89 million analyst mean.

For the current quarter ending later this month, the company is looking for adjusted per-share earnings around $0.00 and little to no same-store sales growth during fiscal Q1 compared with the year-ago period. Analysts, on average, are modeling adjusted Q1 net income of $0.04 per share and a 2.1% rise in same-store sales over last year.

Boot Barn also is projecting non-GAAP FY18 net income in a range of $0.52 to $0.57 per share, which includes about $0.03 per share in additional profit at the $0.55 per share mid-point resulting from an additional week this year compared with non-GAAP net income of $0.52 per share during the 52-week FY17. It also is expecting flat to slightly higher same-store sales growth this year. The Street is expecting adjusted FY18 earnings of $0.61 per share and 0.9% same-store sales growth.

In other sector news,

(+) LULU, (+12.8%) Q1 EPS of $0.32 beats Capital IQ consensus by $0.04 per share. Net sales rise 5.0% over year-ago levels to $520.3 mln, also exceeding the Street view by around $6.31 mln. Total same-store sales slip 1% compared with last year.

(-) RH, (-25.8%) Adjusted Q1 net income of $0.05 per share matches reduced outlook for $0.03 to $0.05. Net sales climb 23.4% to $562.1 mln, matching pre-announced view expecting between $558 mln to $562 mln. Lowers non-GAAP FY18 EPSÂ forecast to $1.67 to $1.94 from prior outlook expecting $1.78 to $2.19 per share and trailing $2.17 per share consensus.

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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