Sector Update: Consumer Stocks Gaining Amid Positive Earnings Reports

Last Updated: Thursday, June 10, 2021 3:43 PM | MT Newswires

Consumer stocks rose during Thursday trading, with the SPDR Consumer Staples Select Sector ETF climbing 0.6% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was rising 0.3%.

In company news, 1stdibs.com (DIBS) rallied in its stock market debut, rising to a first-day high of $29.30 after the luxuries e-commerce company priced its $115 million initial public offering of 5.75 million shares at $20 apiece, or near the top end of its expected price range.

RH (RH) added more than 16% after the specialty retailer reported improved Q1 results, with adjusted earnings climbing to $4.89 per share from $1.27 per share and net sales growing 78% year-over-year to $860.8 million, blowing past average analyst estimates for an adjusted profit of $4.12 per share on $757.7 million in sales in a Capital IQ survey. RH also raised its sales growth forecast for FY22.

Signet Jewelers (SIG) climbed nearly 15% after the company said it was reinstating its quarterly dividend and increasing its FY22 outlook following better-than-expected Q1 results. It earned $2.23 per share excluding one-time items on $1.69 billion in sales. The Street was at $1.27 per share and $1.62 billion, respectively.

Among decliners, Celsius Holdings (CELH) slid over 16% after the beverage company priced a $62.5 million public offering of 1 million common shares at $62.50 per share, more than 14% below Wednesday's closing price. Several institutional investors and Celsisus executives, including CEO John Fieldly, sold a combined 5.5 million shares at the same offering price.

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