Top Consumer Stocks
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.
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