Consumer services

Consumer Sector Update for 2/17/2022: WMT, CAKE, DASH, ACI

VSConsumer stocks were mixed overall in Thursday’s trading, with the SPDR Consumer Staples Select Sector ETF (XLP) posting a 0.5% gain and the SPDR Consumer Discretionary Select Sector ETF (XLY) down 1.6%.

In corporate news, Walmart (WMT) rose 3% after the retailer reported improved fourth-quarter results, earning $1.53 per share, excluding one-time items, on 151.53 million in net sales and beating consensus Capital IQ which expects adjusted earnings of $1.50 per share and $150.99 billion in sales for the three months ended Jan. 31.

The Cheesecake Factory (CAKE) rose 3.5% after the restaurant chain on Wednesday night reported non-GAAP net income of $0.49 per share for its fourth quarter ended Dec. 28, versus an adjusted loss of $0.32 per share in the year-ago quarter as revenue grew. more than 40% to $776.7 million, topping Street View’s $774.5 million.

DoorDash (DASH) climbed 8.6% after the home delivery and services company narrowed its net loss in the fourth quarter as revenue rose 34% from year-ago levels to 1 $.3 billion, beating Capital IQ’s consensus of $1.28 billion in fourth-quarter revenue. Separately, Doordash said Thursday it is partnering with Albertsons (ACI) to launch express grocery delivery services in nearly two dozen U.S. cities.

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