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Consumer Sector Update for 07/10/2017: SHLD,MYCC,APO,ANF

Top Consumer Stocks

WMT -1.85%

MCD -0.41%

DIS +0.32%

CVS -0.13%

KO +0.05%

Consumer stocks were mixed on Monday, with shares of consumer staples companies in the S&P 500 declining a little more than 0.3% while shares of consumer discretionary firms in the S&P 500 were adding nearly 0.3% in value today.

In company news, Sears Holdings ( SHLD ) fell Monday, dropping nearly 7% today to a session low of $7.27 a share after the struggling department-store chain late Friday said it has negotiated a revised line of credit worth up to $500 million in addition to paying down a portion of its real estate and revolving loan facilities following several property sales.

Individual loans under the line of credit will mature in less than 179 days, with interest rates and other terms to be determined at the time of the loan. The company Friday also said it is planning to discuss making more advances from the line of credit facility with other lenders from time to time.

Sears also said it closed on over $200 million of real estate transactions during June, using $153 million of the net proceeds to reduce the amount owed on its April 2016 real estate loan to $347 million. It used the remaining $57 million in net proceeds to reduce the outstanding balance on its revolving credit facility.

In other sector news,

(+) MYCC, (+30.5%) Accepts $1.1 bln private-equity buyout offer from Apollo Global Management ( APO ), which is paying $17.12 in cash for each ClubCorp share, a 30.7% premium over Friday's closing price for the stock.

(-) ANF, (-20.5%) Falls to a nearly two-decade low after saying it has ended talks for a potential sale of the company without a deal.

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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