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Consumer Sector Update for 09/11/2015: ZUMZ,RH,CHKE,TGT

Top Consumer Stocks

WMT +0.48%

MCD +1.82%

DIS +1.52%

CVS +0.35%

KO -0.25%

Consumer stocks were extending their earlier gains in late trade, with shares of consumer staples companies in the S&P 500 adding around 0.3% while shares of consumer discretionary firms in the S&P 500 were posting a 0.6% advance.

In company news, Zumiez Inc. ( ZUMZ ) shares plunged to a five-year low on Friday after the apparel retailer forecast earnings and revenue for the current quarter trailing Wall Street expectations.

For the three months ending in October, the company is projecting per-share earnings of $0.27 to $0.31, well under the Capital IQ consensus expecting Zumiez to earn $0.52 per share.

It also sees revenue in a range of $202 million to $206 million compared with the Street view looking for around $225 million in revenue. Sales at stores open at least a year are expected to decline between 7% to 9%; analysts, on average, have been expecting same-store sales to fall just 0.7% this quarter.

Adjusted net income and during the 13 weeks ended August 1 matched analyst projections, posting a $0.12 per share profit, excluding one-time items, on $179.8 million in revenue.

ZUMZ shares were almost 32% at $14.82 apiece, earlier slipping to their lowest price since February 2010 at $14.77 a share. Through yesterday's close, the stock already had dropped more than 25% over the past 12 months.

In other sector news,

(+) RH, Raises FY15 EPS outlook to $3.06 to $3.16, bridging $3.11 per share consensus. Also boosts FY15 revenue forecast to 2.158 bln to $2.178 bln; Street is at $2.17 bln. Adjusted Q2 EPS, revenue also beat analyst estimates.

(-) CHKE, Target ( TGT ) decides against renewing licensing agreement when current pact expires Jan 31, 2016, ending a nearly 20-year partnership.

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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