After the market opened on September 8, Ohio-based retailer The Kroger Company (KR) reported its fiscal 2Q17 results. The company posted EPS (earnings per share) of $0.39 in fiscal 2Q17—a fall of 17.0% compared to EPS of $0.47 in fiscal 2Q16. The EPS was in line with consensus estimates. Kroger reported revenues of $27.6 billion in fiscal 2Q17—growth of 4.0% compared to fiscal 2Q16. The revenues were slightly higher than analysts’ estimate of $27.5 billion. Lower earnings in 2Q17 weighed on the stock. Kroger stock fell 6.1% last week. The stock has fallen 39% year-to-date as of September 8.
On September 6, at the Barclays Global Consumer Staples Conference, Altria Group (MO) reaffirmed its guidance for its adjusted diluted EPS in 2017. The company expects its EPS to be $3.26–$3.32, which implies growth of 7.5%–9.5% from its EPS in 2016. The stock fell 2.1% last week.
On September 6, Newell Brands (NWL) announced that it’s updating its 2017 earnings guidance after Hurricane Harvey impacted its US manufactured resin businesses. The business also experienced inflationary pressure in the third quarter. Newell Brands expects its 2017 EPS to be $2.95–$3.05 from its earlier guidance of $3.00–$3.20. The stock fell 10.0% last week.
Mattel’s (MAT) shares fell 7.3% last week after Lego A/S, a Denmark-based private toy company, announced 1,400 job cuts due to slow demand.