Consumer stocks were lower this afternoon, with shares of consumer staples companies in the S&P 500 slipping 0.8%. Shares of consumer discretionary firms in the S&P 500 were down about 1.4%.
In company news, Kohl's ( KSS ) shares are lower this afternoon but off their worst levels of Thursday's session after the retailer missed analyst projections with its Q1 earnings and revenue.
KSS shares were down 2.4% at $52.74 each in recent trade, earlier dropping to an intra-day low of $52.18 a share. The stock has a 52-week range of $48.68 to $59.00 a share, adding about 8.7% in value over the past year.
The company earned $0.60 per share during the quarter, trailing the Capital IQ consensus by $0.02 per share. Revenue fell 3.1% year over year to $4.07 billion, lagging estimates by around $150 million. Same-store sales were down 3.4% from year-ago levels, also missing the consensus view looking for just a 0.2% decline.
KSS also reaffirmed FY15 guidance, forecasting per-share earnings in a range of $4.05 to $4.45, in-line with the $4.33 per share profit analysts anticipate.
In other sector news,
(+) CROX, (+0.2%) Raised to Strong Buy at CL King.
(-) WMT, (-2.3%) Q1 EPS of $1.10 per share lags consensus by $0.05 per share. Revenue rises 0.8% to $114.17 bln, missing Street view by $1.43 mln. Q2 earnings forecast of $1.15 to $1.25 per share lags estimates by at least $0.03.
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