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Consumer Sector Update for 10/02/2015: JWN,TD,TD.TO,WYNN,SMRT

Top Consumer Stocks

WMT +0.09%

MCD +0.53%

DIS -0.19%

CVS +0.63%

KO +1.09%

Consumer stocks have turned positive this afternoon, with shares of consumer staples companies in the S&P 500 rising 0.5% in recent trade although shares of consumer discretionary firms in the S&P 500 also were sliding 0.5% lower.

In company news, Nordstrom ( JWN ) shares advanced Friday after the department-store chain announced plans to return around $1.8 billion to shareholders through a special dividend following the sale of its credit card portfolio to the American arm of Toronto-Dominion Bank (TD,TD.TO).

Nordstrom last night said the credit card portfolio fetched $2.2 billion, which after prepaying $325 million in secured debt maturing next October and paying between $35 million to $45 million in transaction costs, will translate into the $4.25-per-share special dividend, payable Oct. 27 to shareholders of record on Oct. 12.

In addition to the credit cards sales, TD Bank will become the exclusive U.S. issuer of Nordstrom-branded Visa and private-label credit cards under a new long-term agreement.

JWN shares were up over 3% at $73.89 apiece this afternoon, earlier climbing to a session high of $74.54 a share. The company last night also authorized a new $1 billion stock buyback program.

Toronto-Dominion stock was lower on both sides of the border today, with TD shares slipping slightly more than 1% to $38.92 in New York while TD.TO shares were off about 1.4% at C$51.48 each at the Toronto Stock Exchange.

In other sector news,

(+) WYNN, (+20.5%) Chinese authorities reportedly considering new economic support to revitalize Macau's casino industry.

(-) SMRT, (-4.0%) Reports sluggish September sales, now expecting sales at stores open more than one year will post a percentage decline in the low single digits compared with a 5.9% increase in September 2014.

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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