Top Consumer Shares:
Consumer shares were mixed ahead of Friday’s open.
In sector news, Ulta Beauty ( ULTA ) fell 5% after it reported Q2 sales of $1.289.9 billion, up from $1.069 billion in the year ago quarter and just ahead of the analyst consensus of $1.286 billion on Capital IQ. Earnings were $1.83 per share, including $0.02 per share related to a new accounting standard, up from $1.43 per share a year ago and better than expectations of $1.78 per share. Comparable sales increased 11.7% compared to an increase of 14.4% in the second quarter of fiscal 2016.
For Q3, the company is targeting sales in the range of $1.331 to $1.353 billion, straddling the Street view of $1.333 billion. Earnings are seen at $1.63 to $1.68 per share, vs. expectations of $1.68 per share. For FY 2017, the company said it expects to achieve comparable sales growth of approximately 10% to 11%, and deliver earnings per share growth in the high twenties percentage range, compared to previous guidance of mid-twenties percentage range.
In other sector news,
(+) TSLA (+0.7%) Plans to bring fully self-driving car to market divides engineers; to launch big-rig electric trucks next month
(-) GME (-7.7%) Q2 earnings miss Street by a penny
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.