Markets

Sector Update: Consumer

A generic image of a pen a chart
Credit: Shutterstock photo

Consumer stocks were narrowly mixed in late afternoon trade with shares of consumer staples companies in the S&P 500 adding about 0.2%. Shares of consumer discretionary firms in the S&P 500 were down about 0.1%.

In company news, The Children's Place Retail Stores ( PLCE ) rose Thursday after the retail chain reported a smaller adjusted Q2 net loss compared with year-ago levels, beating analyst projections.

Excluding one-time items, the company posted a net loss of of $0.37 per share, improving on a $0.42 loss during the same quarter last year and beating the Capital IQ consensus by $0.08 per share. Revenue grew 0.6% year over year to $384.6 million, topping the Street view by around $6.1 million.

The company boosted the bottom end of its FY14 earnings guidance by $0.05 per share to a new range of $2.95 to $3.05 per share, in-line with estimates looking for a $3.02 per share profit. Revenue is seen coming flat to down 1% compared with year-ago levels. The Street is expecting a 0.2% decline in FY14 revenue from last year.

For the current quarter, PLCE is expecting adjusted net income in a range of $1.74 to $1.82 per share, in-line with the $1.82 per share consensus.

PLCE shares are up 7.8% at $54.36 each in late trade, earlier advancing to a session high of $54.49 a share. The stock has traded within a 52-week range of $44.54 to $58.89 a share, climbing just over 6% during the past 12 months.

In other sector news,

(+) CRMT, Fiscal Q1 net income of $0.79 per share beats the Capital IQ consensus by $0.19 per share. Revenue climbs 3.9% year over year to $127.38 mln, topping the Street view by around $11.99 mln.

(-) PLKI, Adjusted Q2 earnings of $0.39 per share match analyst estimates. Revenue rises 12.1% year over year to $53.7 mln, lagging Street view by $1.1 mln. FY14 EPS outlook of $1.58 to $1.63 in-line with $1.63 per share consensus. Sees 3% to 4% same-store growth.

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.

In This Story

PLCE

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More