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Consumer Sector Update for 05/26/2020: CROX,WTRH,TRUE

Consumer stocks were broadly higher, with the SPDR Consumer Staples Select Sector ETF climbing 0.9% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was adding 2.2% in value.

In company news, Crocs (CROX) climbed 10% after The Wall Street Journal reported the shoe company was the only footwear brand tracked by the NPD Group to post sales growth during March as the COVID-19 pandemic took hold in the US. The company also was one of two to post sales growth during April despite most retail stores throughout the country closing in a bid to limit the spread of the disease.

Waitr Holdings (WTRH) was up 7% after the food ordering and delivery company Tuesday announced a new partnership adding the Five Guys restaurant chain to its delivery network, effective immediately.

TrueCar (TRUE) rose 2.9%. The auto e-commerce company Tuesday said it was expecting its ALG subsidiary will report selling around 1.08 million units during May, down 32% from year-ago levels. ALG also is projecting a seasonally adjusted annualized rate for light vehicle sales this month of 1.01 million units, or about 21% under the same month 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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