This Week's Biggest Consumer Goods Earnings Announcements
In Tuesday's Consumer Countdown, Motley Fool consumer goods analyst Sean O'Reilly joins Mark Reeth to discuss some of the big earnings announcements from their sector this week. The first company they discuss is Kellogg , which reported so-so earnings on Monday. The big news there, though, was the company's announcement that it would cut 7% of its workforce over the next four years to cut costs. Neither Mark nor Sean think that's a good sign for the company.
Then the guys turn to Michael Kors , which had an excellent quarter that saw total revenue increase 39%. Sean thinks that a large part of that is due to wealthy consumers staying strong, as well as the company's moves into India and Brazil. In addition, same-store sales were up over 22%; overall, this was a great quarter for an already strong company, and the team thinks that the growth will keep coming.
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The article This Week's Biggest Consumer Goods Earnings Announcements originally appeared on Fool.com.
Mark Reeth has no position in any stocks mentioned. Sean O'Reilly has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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