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

Consumer stocks were trending higher late in Friday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) gaining 0.5%, reversing its morning slide, while the SPDR Consumer Discretionary Select Sector ETF (XLY) was rising 0.8%.

In company news, Mondelez International (MDLZ) fell 2.2% after the packaged foods company reported non-GAAP Q4 net income of $0.71 per share, improving on a $0.66 per share during the same quarter in 2020 but still missing the Capital IQ consensus expecting it to earn $0.73 per share, excluding one-time items.

VF (VFC) tumbled 7% 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.

To the upside, Columbia Sportswear (COLM) rose 2.4% after Seaport Global Friday raised its investment call for the company to buy from neutral and set a $120 price target.

Olaplex (OLPX) climbed 1.4% 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.

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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