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Consumer Sector Update for 07/28/2020: SHW,MCD,TLRD

Consumer stocks were split between winners and losers on Tuesday, with the SPDR Consumer Staples Select Sector ETF climbing 0.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was dropping 0.2%.

In company news, Sherwin-Williams (SHW) was hanging on for a 1.4% gain after the paint seller reported non-GAAP Q2 net income of $7.10 per share on $4.6 billion in net sales, exceeding the Capital IQ consensus expecting $5.70 per share and $4.55 billion, respectively. The company Tuesday also raised its FY20 EPS outlook above consensus.

McDonald's (MCD) slid 2.4% after the fast-food restaurant chain reported non-GAAP Q2 net income of $0.66 per share, compared with $2.05 per share during the same quarter last year and trailing the Capital IQ consensus expecting adjusted earnings of $0.76 per share.

Tailored Brands (TLRD) tumbled over 36% to a record low of $0.38 per share after the men's apparel retailer said it was weighing several potential actions, including filing for bankruptcy protection, because of the COVID-19 pandemic's negative impact on its business and raising doubts about its ability to continue as a going concern.

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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