Nike, Carnival, Royal Caribbean Shine As Top 3 Weekly Gainers Among Consumer Stocks

Consumer stocks delivered mixed performance last week, with the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 4%, while the Consumer Staples Select Sector SPDR Fund (XLP) inched up just 0.1%.

Here are last week’s top performers from the sector:
 

Nike (20.5% weekly gain)

Nike shares surged on Friday, ending the week as the top performer in the consumer sector after the company posted stronger-than-expected fourth-quarter results and a solid revenue forecast for the current quarter. The performance marked early signs of progress under new CEO Elliott Hill and confirmed investor analyst expectations that the previous quarter marked the bottom, with momentum now shifting toward recovery.

As of the time of writing, the retail sentiment for Nike was 'extremely bullish' on Stocktwits.

Carnival Corp (14.7% weekly gain)

The cruise operator registered one of its best weeks in the recent past. Shares rose 8% intraday early last week after the company raised its annual profit outlook and posted Q2 results above expectations.

As other parts of the consumer economy face weakness, the cruise industry has shown remarkable resilience over the last few quarters.Carnival said it is seeing strong demand for tours, as well as onboard spending, despite price hikes in recent years.

On Stocktwits, retail sentiment for the company was 'extremely bullish.'

Royal Caribbean Group (13.6% weekly gain)

Positive signals from its peer cruise operator helped lift Royal Caribbean shares, too, which have now extended their winning streak to seven consecutive sessions.

At least one Stocktwits user called the rally "an abnormal move," while retail sentiment remained in ‘bullish’ territory.

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