Top Consumer Stocks
Consumer stocks were broadly mixed this afternoon, with shares of consumer staples companies in the S&P 500 falling almost 0.7% while shares of consumer discretionary firms in the S&P 500 were declining nearly 0.4%.
In company news, Tailored Brands ( TLRD ) raced to a big advance on Thursday, climbing nearly 18% to touch a session high of $20.25 a share, after late Wednesday reporting above-consensus Q3 financial results and issuing an upbeat FY17 outlook.
Excluding one-time items, the company earned $0.75 per share during the three months ended Oct. 28, improving on an adjusted Q3 profit of $0.71 per share during the year-ago period and easily surpassing the Capital IQ consensus expecting a $0.54 per share non-GAAP profit. Net sales declined 4.3% to $810.8 million compared with $846.9 million during the same quarter last year but still exceeding the $807.51 million analyst mean.
For the full year ending in late January, the company is expecting adjusted per-share earnings in a range of $2.03 to $2.08, beating the Street consensus by at least $0.17 per share.
In other sector news,
(+) VNCE, (+9.2%) Reports surprise Q3 profit of $0.41 per share, down from a split-adjusted $0.68 per share during year-ago period but still topping the lone analyst estimate expecting a $0.11 per share net loss. Net sales rise 4.1% to $76.0 mln, beating the single-analyst call expecting $59.4 mln.
(-) BRFS, (-4.1%) Equity stake held by investment funds and portfolios held by its GIC Group economic group Dec. 4 falls to 40.62 mln ordinary shares, slipping just under the 5% threshold.
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