Consumer Sector Update: March 18, 2011

March 18, 2011

Consumer shares are mixed while General Mills (GIS) is in exclusive talks with French private equity group PAI Partners and French dairy cooperative Sodiaal SA to buy a 50% stake in the entity which owns yogurt-maker Yoplait SAS and affiliated companies. Meanwhile, Nike (NKE) is down after it reported late Thursday Q3 revenue of $5.1 bln, in line with Street estimates. EPS was $1.08 per share, less than expectations of $1.13 per share, if comparable. As of the end of the quarter futures orders for NIKE Brand athletic footwear and apparel, scheduled for delivery from March through July 2011, totaled $7.9 billion, 11% higher than orders reported for the same period last year. Excluding currency changes, reported orders would have increased 9%, it said.