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Consumer Sector Update for 11/29/2018: JACK,ANF,LZB,TLYS

Top Consumer Stocks

WMT -0.13%

MCD +0.94%

DIS +0.77%

CVS -0.24%

KO -0.46%

Consumer stocks were narrowly mixed this afternoon, with shares of consumer staples companies in the S&P 500 climbing just over 0.2% higher today while shares of consumer discretionary firms in the S&P 500 were slipping almost 0.2%.

Among consumer stocks moving on news:

(+) Jack In The Box ( JACK ) shares surged Thursday afternoon, only to fall slightly negative just before today's close, following an exclusive Reuters report the fast food chain has been exploring its strategic options, including a potential sale of the company. Jack In The Box shares jumped almost 8% higher within minutes of Reuters posting its initial report, reversing a more than 1% decline for the stock prior to 1:15 p.m. ET. The company already has begun talks with other restaurant companies and private equity firms, sources familiar with the matter told the news service.

In other sector news:

(+) Abercrombie & Fitch ( ANF ) raced as much as 29% higher on Thursday after the apparel retailer reported adjusted Q3 net income and sales easily surpassing Wall Street expectations. Excluding one-time items, net income to $0.33 per share from $0.30 per share during the same quarter last year to top the Capital IQ consensus by $0.12 per share. Net sales climbed to $861.2 million from $859.1 million last year, also exceeding the analyst mean looking for a year-over-year decline to $856.3 million.

(+) La-Z-Boy ( LZB ) was almost 5% higher this afternoon after reporting non-GAAP fiscal Q2 net income of jumped almost 11% during Thursday's early session after reporting fiscal adjusted Q2 net income of $0.48 per share on $439.33 million in net sales, beating the Capital IQ consensus by $0.04 per share and $5.39 million, respectively. The furniture retailer also increased its quarterly dividend by a penny to $0.13 per share.

(-) Tilly's ( TLYS ) slumped dropped over 21% on Thursday after the casual apparel retailer reported a 3.9% decline in Q3 net sales to $146.8 million, trailing analyst projections. Excluding one-time items, net income fell $0.07 per share from the same quarter last year to $0.24 per share but still topped the Capital IQ consensus by $0.01 per share.

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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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