Sector Update: Consumer Stocks Mixed in Late Afternoon Trading

MT Newswires Live12-20 04:46

Consumer stocks were mixed late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) easing 0.2%, and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.3%.

In corporate news, CarMax (KMX) expects comparable sales to improve sequentially in Q4, pointing to an acceleration so far in December compared with Q3's performance. Chief Executive Bill Nash told analysts on a conference call that the company expects comparable sales to be "stronger" on a sequential basis in Q4. CarMax shares popped 4%.

Soho House (SHCO) shares surged nearly 49% after it said Thursday it received a $9 per share acquisition offer from a consortium earlier this week.

Regis (RGS) shares gained 7.4% after the company said it acquired Alline Salon Group, its largest franchisee, in a cash-and-stock deal valued at $22 million in initial consideration.

Darden Restaurants (DRI) lifted its full-year revenue outlook as the restaurant operator recorded better-than-expected fiscal Q2 results. The shares jumped 15.6%.

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