Top Gainers in the Consumer Sector: September 4–8, 2017
On September 7, at the Barclays Global Consumer Staples Conference, General Mills (GIS) reaffirmed its financial targets for fiscal 2018. The company projects organic net sales to fall 1%–2% from the levels in 2017. The total segment operating profit is expected to range between flat and up 1%. For fiscal 2018, the adjusted diluted EPS (earnings per share) is estimated to rise 1%–2% in constant currency. The adjusted operating profit margin is projected to grow compared to the levels last year. After the announcement, the stock rose 3.0% for the week ending September 8.
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On September 6, at the Goldman Sachs 24th Annual Global Retailing Conference, Gap (GPS) outlined its strategy for long-term growth. The company expects Old Navy to exceed $10 billion and Athleta to exceed $1 billion in net sales in the next few years. US store expansion and growth in mobile and online channels will drive the sales. The company also discussed its plans to add ~70 net new stores along with 270 Old Navy and Athleta stores. The company plans to close 200 of its underperforming Gap and Banana Republic stores in the next three years. The announcement caused the stock to rise 6.0% last week.
Iowa-based grocery store Casey’s General Stores (CASY) announced its 1Q18 financial results on September 6. The company posted EPS of $1.46 in fiscal 1Q18—a fall of ~14.1% compared to EPS of $1.70 in fiscal 1Q17. The EPS was 1.4% higher than analysts’ estimates. The company reported revenues of $2.09 billion in fiscal 1Q18—an increase of 6.3% compared to fiscal 1Q17. The revenues missed analysts’ estimates by 2.7%. Casey’s stock rose 1.6% last week.