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Consumer Sector Update for 05/22/2020: BKE, FL, DE, XLP, XLY

Consumer stocks were flat in Friday’s premarket trading. Shares of staples companies in the S&P 500 (XLP) and the consumer discretionary firms (XLY) were both unchanged.

Meanwhile, Foot Locker (FL) retreated more than 8% after reporting Q1 non-GAAP loss of $0.67 per share, compared with non-GAAP earnings of $1.53 per share a year earlier. Sales declined to $1.18 billion from $2.08 billion in the same quarter last year.

Deere & Company (DE) added more than 3% after posting Q1 EPS of $2.11, down from $3.52 a year earlier. Net sales were $8.22 billion, down from $10.27 billion in the year-ago quarter. Analysts polled by Capital IQ expected EPS of $1.58 and revenue of $7.68 billion.

Buckle (BKE) was down more than 1% after reporting fiscal Q1 net loss of $0.24 per share, compared with earnings of $0.31 per share a year earlier. Net sales also decreased to $115.4 million from $201.3 million last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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