Consumer Sector Update for 01/28/2022: COLM, OLPX, VFC

Consumer stocks were trending higher in Friday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) gaining 0.2%, paring most of its morning slide, while the SPDR Consumer Discretionary Select Sector ETF (XLY) was rising 0.7%.

In company news, Columbia Sportswear (COLM) rose 2.1% after Seaport Global Friday raised its investment call for the company to buy from neutral and setting a $120 price target.

Olaplex (OLPX) rose 2.3% after Arcaea said Olaplex made an unspecified investment in the cosmetics startup late last year as part of a new partnership working to develop new haircare products.

VF (VFC) tumbled 5.5% after the branded apparel company cut its FY22 revenue outlook, now expecting around $11.85 billion in sales for the 12 months through December, down from its prior forecast looking for $12 billion in sales this year. The Street is at $11.95 billion, according to Capital IQ.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.