Sector Update: Consumer Shares Flat Pre-Market
Top Consumer Shares:
Consumer shares were generally flat in pre-market trade Friday.
In consumer sector news, Ann Inc ( ANN ) shares added more than 1% in recent pre-market trade after reporting fiscal Q1 earnings that topped analysts' expectations.
ANN is trading in the upper half of the 52-week range between $29.64 and $43.61.
The women's specialty retail fashion brand said earnings in the quarter ended May 3, excluding a restructuring charge, fell to $0.33 per share from $0.44 the year earlier but exceeded the $0.31 average estimate from analysts polled by Capital IQ.
And, analysts at RBC Capital Markets have lowered their price target on shares of natural and organic food company Annies Inc. ( BNNY ) to $37 from $45 a share, while maintaining an outperform rating on the stock.
The price target reduction comes the day after BNNY reported Q4 earnings that failed to meet analyst expectations.
And, Cott ( COT ), a producer of beverages on behalf of retailers, brand owners and distributors, said its U.K. business unit has acquired all subsidiary companies of Aimia Foods, a private U.K.-based food-and-beverage company, for a purchase price of at least $126 million and up to $140 million.
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