Consumer Cyclical Sector Review: Liz Claiborne Off to Strong Start, Rearview Camera Claim on Hold
Gentex Corporation (NASDAQ:GNTX): Regulators won’t issue a new rule requiring automobile makers to install rearview cameras until the end of 2012, Transportation Secretary Ray LaHood said yesterday, according to The New York Times. Further study of the matter is required, LaHood added. Gentex (NASDAQ:GNTX) markets displays that are used in conjunction with rearview cameras in automobiles.
The shares closed at $23.65, down $3.99, or 14.44%, on the day. Its market capitalization is $3.39 billion.
Liz Claiborne, Inc. (NYSE:LIZ): Says it’s off to a strong start at retail in 2012. For January, kate spade direct-to-consumer sales increased 30%, Lucky Brand DTC sales increased 29% and Juicy Couture sales DTC sales fell 8%. For February month to date, kate spade DTC sales up 16%, Lucky Brand DTC sales up 21%, Juicy Couture DTC sales down 2%. For 2012, sees FY12 CapEx ~$75M, normalized tax rate 38%-40%. Comments made on the Q4 earnings conference call.
The shares closed at $9.78, down $0.61, or 5.87%, on the day. Its market capitalization is $925.13 million.
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