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

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