Consumer shares were lower in pre-market trade Monday, weighed along with the broader stock market, which was down on concerns over political tension in Ukraine and Russia.
In consumer sector news, Nu Skin Enterprises ( NUS ) shares were down 9% in pre-market trade Monday after it reported both Q4 revenue and Q1 guidance that fell short of the Street view.
For Q1 2014, the company estimates revenue growth of 20% to 24%, or $650 to $670 million in revenue, and earnings of between $0.90 to $0.94. But the Street called for revenue of $756 million and Q1 earnings of $1.32 per share, according to Capital IQ estimates.
And, The Men's Wearhouse ( MW ) confirmed that it entered into a non-disclosure agreement with Jos. A. Bank Clothiers ( JOSB ) on Saturday night, March 1, under which the companies have agreed to exchange certain confidential information and to work in good faith to evaluate a potential combination, and that Men's Wearhouse has received a draft merger agreement from Jos. A. Bank.
Men's Wearhouse noted in a statement that its existing cash tender offer for $63.50 would provide Jos. A. Bank shareholders with a substantial premium and immediate value, and that as previously announced, Men's Wearhouse is prepared to increase its offer price to $65 per share if Jos. A. Bank can demonstrate or Men's Wearhouse can discover additional value through discussions or limited due diligence.
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