Consumer stocks were sharply lower this afternoon with shares of consumer staples companies in the S&P 500 posting a 1.6% decline. Shares of consumer discretionary firms in the S&P 500 were dropping nearly 1.2%.
In company news, Deckers Outdoor ( DECK ) shares were up nearly 6% in late Friday trading after the boots and footwear seller recorded a smaller net loss than analysts were expecting while also beat the Street view with its quarterly revenue.
The company posted a net loss of $0.08 per share during the transition period ended March 31, topping the Capital IQ consenus by $0.07 per share. Sales reached $294.7 million, also exceeding the analyst mean by around $12.93 million.
Looking forward, DECK is projecting FY15 revenues to increase 13.0% over the twelve month period ended March 31, 2014, while diluted EPS is seen climbing around 13.5% over the prior fiscal year.
For the current quarter ending in June, it expects revenues to rise 12% over the same quarter last year - trailing the consensus view expecting around 9.5% growth - with a net loss of $1.33 per share compared to the $0.85 per share loss last year. Analysts, on average are looking for a $1.05 per share loss on around $186.17 million in revenue.
DECK shares were up 5.7% at $83.04 each shortly before the closing bell, earlier advancing to an intra-day high of $84.30 a share. The stock has a 52-week range of $46.59 to $90.09 a share, gaining 40.4% in value over the past 12 months.
In other sector news,
(+) DV, Climbs to 32-month high after fiscal Q3 net income of $0.86 per share beats Capital IQ consensus by $0.11 per share. Revenue fell 1.5% year over year to $496.1 mln but still edged out analyst estimates by around $2.58 mln.
(-) P, Forecasts break-even Q2 to EPS of $0.03, trailing analyst estimates for the current quarter by at least $0.02 per share. Also guides FY14 revenue below Street view. Q1 EPS beats by $0.01 and revenue was $13.3 mln better than consensus.
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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.
