Top Consumer Stocks
WMT +0.14%
MCD -0.31%
DIS -0.56%
CVS -0.41%
KO +0.31%
Consumer stocks were lower, with shares of consumer staples companies in the S&P 500 slipping about 0.3%. Shares of consumer discretionary firms in the S&P 500 were off about 0.3%.
In company news, investors were shunning Krispy Kreme Doughnuts ( KKD ) Tuesday after the company late Monday reported Q1 revenue trailing analyst forecasts and lowered its FY15 per-share earnings guidance below consensus.
KKD shares were down nearly 15% in recent trade at $16.25 apiece, just 5 cents above its session low. The stock has a 52-week range of $15.70 to $26.63 a share, declining just under 5% in value over the past year.
Net sales rose 0.8% during the three months ended April 30 compared with the year-ago period to $121.6 million, missing the Capital IQ consensus by around $3.93 million. It earned $0.23 per share during the quarter, in-line with estimates.
KKD executives said the doughnut retailer recorded its best pretax earnings for a single quarter in over ten years, describing it as "a remarkable achievement" in the wake of severe winter weather that reduced both in-store and wholesale sales.
Looking forward, KKD cut its projections for FY15 earnings by $0.04 from its prior outlook to a new range of $0.69 to $0.74 per share, lagging the Street view by at least $0.02 per share.
In other sector news,
(+) DG, (+4.3%) Q1 revenue grows 6.8% year over year to $4.52 bln, matching analyst estimates. Also reaffirms FY15 EPS of $3.45 to $3.55 on 8% to 9% revenue growth, in-line with Street view looking for $3.51 per share profit and $19.02 bln in sales.
(-)ZQK, (-37.0%) Reports Q2 net loss of $0.15 per share, $0.13 wider than the Capital IQ consensus. Revenue falls 10.5% to $408 mln, trailing estimates by $38.61 mln. Extends goal of profit-improvement program until the end of FY17.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
