Weekly Market Movers: Footwear and Accessories on Top, Grocery Stores Drop

November 4, 2019

After two weeks ‘Footwear and Accessories’ was once again the winning industry with a sentiment increase of 46 points. Crocs and Steven Madden led the category with a sentiment score of 34 and 44 points respectively.

Top Industry: Footwear & Accessories

Crocs Inc. reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.16. In addition to that, the company had revenue of $312.80 million for the quarter, which marks an increase of 19.8% compared to the same quarter last year. Following the earnings’ announcement, Crocs’ shares reached a new 52-week high during mid-day trading. Two weeks ago, the company’s aggregated sentiment score already reached 40 points and is still in the positive range with 34 points.

The sentiment of Steven Madden Ltd. reached a positive score of 44 points. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.09. Furthermore, Steve Madden’s sales reached $497.3 million, which exceeded FactSet’s estimates of $487 million.

Flop Industry: Grocery Stores

Meanwhile, the sentiment score for grocery stores dropped by 52 points for the period from Oct 28 to Nov 4, 2019. Natural Grocers by Vitamin Cottage Inc. and Woolworths Group Ltd. were among the worst-performing companies in the industry.

Woolworths, Australia’s largest supermarket chain, recently reported that 5,700 staff have been underpaid by an estimated $200 to $300 million before tax. The company’s CEO issued his apology and committed himself to address the issue so that it will not happen again.

Natural Grocers by Vitamin Cottage Inc. was subject of an increase in short interest in October. As of October 15th, there was short interest totalling 992,000 shares – an increase of 5.6% from September 15th.

Notes:

1 Companies that contributed most to last week’s industry sentiment change.

2  Top trending event related to the respective company.

3  Weekly aggregated company sentiment score (ranging from -100 to +100).

4  Weekly aggregated company attention buzz (the percentage by which the number of news, blogs and tweets about an asset deviates from normal attention).

*Industry name and classification as per Morning Star

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