ARHS

Arhaus, Inc.

7.42
USD
5.18%
7.42
USD
5.18%
4.23 14.95
52 weeks
52 weeks

Mkt Cap 965.47M

Shares Out 136.95M

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Consumer Sector Update for 08/11/2022: ARHS, DIS, SONO

Consumer stocks were mixed in Thursday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 0.6% and the SPDR Consumer Discretionary Select Sector ETF (XLY) was slipping less than 0.1%. In company news, Arhaus (ARHS) added nearly 27% after the home furnishings retailer reported non-GAAP net income of $0.28 per share, up from $0.25 a year earlier and breezing past the $0.12 per share Street view. Net sales for the June quarter also exceeded analyst estimates. Walt Disney Co (DIS) was 5.8% higher after the media and entertainment conglomerate reported non-GAAP net income and revenue for its fiscal Q3 topping year-ago comparisons and analyst forecasts. The company added 14.4 million Disney+ subscriptions during the quarter, increasing the total number of subscriptions for the streaming platform to 221 million. Sonos (SONO) slumped almost 25% after the consumer audio equipment company reported non-GAAP net income of $0.19 per share in Q3, down from $0.27 per share during the same quarter last year and trailing the Capital IQ consensus by $0.02 per share. Net sales declined 1.8%, also lagging Wall Street estimates, and the company is now projecting between $1.73 billion to $1.76 billion in fiscal 2022 revenue compared with its prior forecast range of $1.95 billion to $2 billion and the $1.96 billion analyst mean. 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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