Top Consumer Stocks
Consumer stocks were ending mostly lower today, with shares of consumer staples companies in the S&P 500 dropping almost 1.3%, nearly tripling its mid-day loss, while shares of consumer discretionary firms in the S&P 500 were slipping more than 0.1%.
In company news, apparel retailer Tilly’s ( TLYS ) fell as much as 10% on Thursday, dropping to a session low of $8.65 a share, despite last night reporting improved Q2 earnings and sales compared with year-ago levels, exceeding Wall Street estimates.
The company earned $0.11 during the three months ended July 29, up from $0.05 during the same quarter last year and beating the Capital IQ consensus by $0.06 per share. Revenue climbed 17.6% over last year to $138.8 million, also slipping past the $136 million Street view.
Looking ahead, the company is expecting Q3 comparable-store sales to be flat to up by low single-digits on a percentage basis and net income in a range of $0.19 to $0.24 per share. Analysts, on average, are expecting the company to earn $0.17 per share during the August-to-October reporting period.
In other sector news,
(+) SIG, Q2 EPS of $1.33 on $1.4 bln in net sale tops Street view expecting a $1.09 per share profit on $1.33 bln in sales. Also agrees to buy online jeweler R2Net for $328 mln in cash.
(-) SJM, Non-GAAP Q1 EPS of $1.51 trails analyst mean expecting $1.63 per share. Net sales fall 4% to $1.75 bln, also lagging the $1.81 bln consensus. Lowers FY18 earnings outlook below Street view. JP Morgan downgrade to Neutral from Overweight.
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