Consumer Biz Recap: Urban Outfitters EXCITED, Wal-Mart CORRUPTION Control
Uh, oh. Attorneys for Wal-Mart (NYSE:WMT) are reviewing the retailing giant’s anti-corruption policies and operations in Brazil and China, and are also recommending that it ‘assess’ its Indian and South African businesses. This is, of course, in addition to that matter in Mexico.
Is it tofu-time, yet? Cattle numbers in the United States have fallen to their lowest in more than 50 years, and domestic prices for meat are climbing, even as the U.S. demand slides to a 20-year low. However, worldwide demand is growing, so restaurants Costco (NASDAQ:COST), Chipotle (NYSE:CMG), and Wendy’s (NYSE:WEN) and among those who have been warned to expect continuing higher beef costs.
Urban Outfitters (NASDAQ:URBN) sees its second quarter comparatives looking good, according to Oppenheimer, as evidence mounts that merchandising and inventory controls are continue to gain traction, and the downside risk is fairly minimal. Further, the retailer’s shares remain a top back-half pick.
Shares of Elizabeth Arden (NASDAQ:RDEN) pop as the firm increases its array of celebrity fragrances, purchasing the global licenses for Justin Bieber and Nicki Minaj, which will be added to its Britney Spears and Mariah Carey scents. The price tag of the deal was not reported, but the company reaffirms its current year guidance for earnings per share of $1.95 to $2, plus net sales growth of between 5 and 5.5 percent.
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