Top Consumer Stocks
Consumer stocks pared some of their prior declines, with shares of consumer staples companies in the S&P 500 slipping just over 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 were falling over 1.2%.
Among consumer stocks moving on news:
(+) Vipshop Holdings (VIPS) was nearly 4% higher in late Thurday trading after the Chinese luxury e-commerce platform reported non-GAAP Q1 net income of RMB1.19 per share, up from RMB1.05 per share during the same quarter last year and exceeding the Capital IQ consensus by RMB0.11 per share. Revenue increased to RMB21.3 billion, also topping the RMB20.6 billion Street view.
In other sector news:
(+) L Brands (LB) climbed 12% after the apparel retailer reported above-consensus Q1 financial results. It earned $0.14 per share on $2.63 billion in net sales during the three months ended May 5 compared with Wall Street expectations looking for a $0.00 per share on $2.56 billion in revenue.
(+) Copart (CPRT) rose 8% on Thursday after the car and truck dealer earned $0.66 per share, excluding one-time items, rising from $0.52 per share during the same quarter last year, while net sales grew 15.7% year over year to $553.1 million. Analysts, on average, had been looking for a $0.62 per share Q3 profit on $537.11 million in sales.
(-) VF Corp. (VFC) was down 1%, reversing an earlier gain. Country music fans were threatening to boycott the company's Wrangler jeans division over its collaboration with rapper Lil Nas X, according to media reports.
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