Consumer Staple Stocks Ending Near Session Lows

Consumer stocks were ending broadly lower, with shares of consumer staples companies in the S&P 500 extending their recent retreat, falling another 1.0% today, while shares of consumer discretionary firms in the S&P 500 slipped just 0.1% this afternoon.

In company news, Long Island Iced Tea (LTEA) was almost 5% higher in late Thursday trading, giving back almost all of a 26% advance to a session high of $2.95 that earlier followed the beverage company today becoming the official iced tea at Barclays Center, the current home of the NBA’s Brooklyn Nets and the New York Islanders professional hockey franchise.

The deal expands the company’s partnership with Brooklyn Sports & Entertainment, providing it with exclusive serving rights at the venue, including all concession stands and luxury suites.

The alliance also includes high-profile interior and exterior branding opportunities, including scoreboard signs and end zones, as well as promotional activities, such as ticket sweepstakes and opportunities for fans to ride on the “Long Island Iced Tea” Zamboni during Islanders games.

In other sector news,

(+) NVFY, Today forecast “robust” growth in Q3 per-share earnings compared with year-ago levels “driven by an increase in consumer demand and new product launches. The company did not provide additional financial details.

(-) SCHL, Reports Q1 net loss of $1.81 per share, expanding on a $1.15 per share loss during the year-ago period nd trailing the Capital IQ consensus expecting a $1.29 per share loss. Revenue declines 33% from year-ago levels to $189.2 mln, also missing the $208 mln Street view.

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