Markets

Consumer Sector Update for 12/03/2015: NWY,ARCI,ARO

Top Consumer Stocks

WMT +1.29%

MCD -0.14%

DIS -1.32%

CVS -0.42%

KO -0.19%

Consumer stocks have turned broadly lower today, with shares of consumer staples companies in the S&P 500 giving back small gains earlier in the session to more recently decline about 0.2% while shares of consumer discretionary firms in the S&P 500 were slipping over 1.0%.

In company news, New York & Company ( NWY ) surged Thursday after the women's apparel company pared its Q3 net loss compared with year-ago levels and beat analyst estimates with its sales during the three months ended Oct. 31.

Excluding one-time items, the company recorded a net loss of $3.0 million, or $0.08 per share, improving on an $0.11 per share adjusted loss during the same quarter last year but coming in wider than the $0.01 per share loss analysts were expecting.

Net sales rose 4.5% over year-ago levels to $219.8 million, topping the Capital IQ consensus expecting $217.2 million. Sales at stores open more than a year grew 4.9% over last year.

For the current quarter, New York & Co. is projecting net sales and same-store sales growth in the low single digits. Analysts, on average, are expecting a 2.7% rise in net sales to $274.7 million.

NWY shares were up nearly 11% to $2.36 apiece, matching their session high.

In other sector news,

(+) ARCI, (+21.0%) Reports significant increase in call center volume from potential customers and industry members after a receiver was appointed in Washington state to liquidate rival JACO Environmental.

(-) ARO, (-26.1%) Q3 revenue falls 19.8% from year-ago levels to $363.3 mln, lagging $393.3 mln consensus. Adjusted net loss of of $0.31 per share was $0.03 per share smaller than Street view. Projected Q4 net loss of $0.14 to $0.17 per share lags analyst expectations for $0.01 per share profit.

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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