Consumer Sector Update for 08/31/2017: WMT, MCD, DIS, CVS, KO, GCO, JMEI, LE

Top Consumer Stocks

WMT, -0.5%

MCD, +0.02%

DIS, -1.5%

CVS, +1.5%

KO, +0.4%

Consumer stocks were mostly higher in Thursday’s afternoon trade.

In other sector news, Genesco ( GCO ) was down nearly 17% after it reported fiscal Q2 net loss from continuing operations of $0.10 per share, compared to adjusted net profit of $0.34 per share in the prior year period. Capital IQ provided a Street estimate of $0.08 loss per share. Net sales for the quarter ended July 29 were $617 million, down from $626 million reported for the same period last year. The Street estimate was for revenues of $626.9 million. For fiscal 2018, the company now expects adjusted earnings to range from $3.35 to $3.65 per share, down from the prior outlook of $3.90 to $4.05 per share. The Street estimate calls for earnings of $3.73 per share. Comparable sales for the year are expected to change -1% to +1%.

(+) JMEI (+8.5%) Completes acquisition of equity interest in Shenzhen Jiedian Technology Co. Ltd.

(-) LE (-9.9%) Q2 loss widens, while revenues Increase vs year ago


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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