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Consumer Sector Update for 08/07/2018: JOUT,COLM,IFF

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Top Consumer Stocks

WMT +0.21%

MCD -0.25%

DIS +0.93%

CVS +0.88%

KO -0.50%

Consumer stocks were broadly mixed Tuesday, with shares of consumer staples companies in the S&P 500 sinking over 0.4% in the afternoon while shares of consumer discretionary firms in the S&P 500 were climbing nearly 0.6%.

In industry news:

Same-store sales at 20 of the largest US chain stores rose 5.6% over year-ago levels during the seven days ended Aug. 4, adding 1.4 percentage points to the prior week's pace in the Redbook week survey and reaching the strongest rate of growth since December. Month-to-date sales also climbed 0.9% over the same period in July while the year-over-year gain also widened by 0.5 percentage points to 4.2%.

Among consumer stocks moving on news:

+ Johnson Outdoors ( JOUT ) hit a record high on Tuesday, rising almost 11% to a best-ever $90.26 a share after the outdoors equipment supplier reported fiscal Q3 financial results exceeding Wall Street expectations. The company earned $2.37 per share during the three months ended June 29, beating the Capital IQ consensus by $0.40 per share. Sales increased to $170.8 million from $155.3 million in year-ago sales and also exceeding the $165 million analyst mean.

In other sector news:

+ Columbia Sportswear ( COLM ) climbed over 1% on Tuesday after the apparel firm added another $200 million to the $59.7 million remaining under its current stock-buyback authorization.

+ International Flavors & Fragrances ( IFF ) was back on positive ground Tuesday afternoon, erasing a small, mid-morning slump, after saying 94.6% of Frutarom Industries Ltd shareholders voted in favor of International Flavors' proposed acquisition of the rival flavors and natural ingredients company. The deal will pay $71.19 in cash and 0.249 of an International Flavor shares for each Frutarom share and is expected to close before the end of the year, subject to clearance by the relevant regulatory authorities and other customary closing conditions.

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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