Markets

Consumer Stocks Advancing With Broader Markets; Francesca's Holdings Laid Bare After Missing Q2 Ests

Top Consumer Stocks

WMT +0.5%

MCD +0.7%

DIS +0.1%

CVS +0.4%

KO +2.1%

Consumer stocks are higher today with shares of consumer staple companies in the S&P 500 climbing 0.8% while shares of consumer discretionary stocks in the S&P are moving up by 1.1%.

Consumer stocks are higher today with shares of consumer staple companies in the S&P 500 climbing 0.8% while shares of consumer discretionary stocks in the S&P are moving up by 1.1%.

In company news, Women's clothier Francesca's Holdings ( FRAN ) is down over 25% at $17.89 a share - plunging well past its prior 52-week low to its lowest level since late 2001 at $17.62 - after reporting Q2 EPS of $0.33 per share, missing the Thomson Reuters consensus call by $0.02.

FRAN also forecast Q3 sales in a range of $78.0 million to $80.0 million, lagging the Street view by at least $10 million. Same-store sales are seen dropping between 2% to 5% from the year-ago quarter while earnings are projected at $0.19 to $0.21. Analysts, on average, are expecting a $0.30 per share profit during the current quarter.

In other sector news,

(+) JCP, (+6.3%, but low end of 52 week range) Glenview Capital increases its stake in the department-store retailer to 20.1 mln shares, or 9.1% overall.

(-) NCMI, (-2%) Said its Regal Entertainment Group unit will sell 2 mln shares of its common stock in a registered underwritten public offering.

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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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