Top Consumer Stocks

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Consumer stocks were edging lower shortly before Friday's closing bell, reversing small gains previously after the flash reading of the University of Michigan consumer sentiment index for July climbed 0.2 points over June's final reading to 98.4 but still lagged the Econoday consensus expecting a 98.6 preliminary score. At last look, the shares of consumer staples companies in the S&P 500 were slipping almost 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 also were down slightly more than 0.3%.

Among consumer stocks moving on news:

(-) Chewy ( CHWY ) dropped over 8% at one point on Friday, sinking to a low $30.25 a share, after the online pet products seller reported a fiscal Q1 net loss slightly larger than Wall Street had been expecting, lowering its net loss for the three months ended May 5 to $29.55 million compared with a $59.82 million net loss during the year-ago period but still missing the Capital IQ consensus expecting a $29.3 million quarterly loss.

In other sector news:

(+) Skechers USA ( SKX ) climbed 13% on Friday after the footwear company reported a 69% increase in Q2 attributable net income over the same April-to-June quarter to $0.49 per share and an 11% rise in net sales to $1.26 billion, exceeding the Capital IQ consensus expecting a $0.33 per share non-GAAP profit on $1.22 billion in revenue. It also projected Q3 financial results topping Street views.

(+) Red Robin Gourmet Burgers ( RRGB ) was hanging on to a 12.3% gain after the restaurant chain late Thursday confirmed receiving an unsolicited about $520 million buyout offer from Vintage Capital Management. Under terms of the conditional bid, the private-equity firm would pay $40 in cash for each Red Robin share, representing a 30.7% premium over Thursday's closing price.

(+) Youngevity International ( YGYI ) was 1% higher in late trading, retracing a small portion of its 14.2% advance earlier Friday after saying its recently acquired Khrysos Industries commercial hemp company has secured a one-year contract to supply water-soluble cannabidiol isolate to an unidentified client. The deal is seen boosting revenue by as much as $19 million over the next year, the health and nutrition products company said.

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