Sector Update: Consumer Stock Maintaining Moderate Gains; Krispy Kreme Sacked After Q2 EPS Miss,
Top Consumer Stocks
Consumer stocks were hanging on to moderate gains today with shares of consumer staples companies in the S&P 500 climbing 0.4%. Shares of consumer discretionary firms in the S&P 500 were up almost 0.2%.
In company news, shares of Krispy Kreme Doughnuts ( KKD ) fell Wednesday after the doughnut retailer reported Q2 adjusted per-share earnings trailing analyst forecasts.
Excluding one-time items, KKD earned $0.13 per share during the quarter, trailing the Capital IQ consensus by $0.02 per share. Revenue rose 6.9% year-over-year to $120.5 million, beating expectations by around $2.3 million.
Looking forward to the rest of its FY15, the company is projecting EPS in a range of $0.69 to $0.74, less items, in-line with analyst estimates looking for a $0.68 per share adjusted profit.
Separately, KKD last night announced an agreement with Monument Restaurants to develop 20 new Krispy Kreme shops. The company also sold its store in Rockville, Md., to Monument but will retain ownership of its other locations in Washington, D.C., and northern Virginia.
KKD shares were down over 5% at $16.73 apiece this afternoon, rebounding slightly off its session low at $16.50 a share. The stock has traded within a 52-week range of $14.82 to $26.63 a share, sliding about 11% over the past 12 months prior to today's losses.
In other sector news,
(+) LE, (+16.8%) Q2 profit rises 4.9% over year-ago period, with EPS of $0.37 beating analyst estimates by $0.02 per share. Revenue of $347.2 mln top Street by $14.14 mln.
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