the Conference Board releases its headline Consumer Confidence Index for May. The index, which has registered 107.3 and 107.6 the past two reports, is expected to be lower at 104 for May.
In company news, Kirkland's (KIRK) tumbled nearly 14% after the home furnishings retailer reported a non-GAAP net loss of $0.62 per share for its Q1 ended April 30, reversing a $0.12 per share profit during the same 13-week period in 2021 and missing the Capital IQ consensus expecting a $0.28 per share loss, excluding one-time items. Net sales declined 16.4% from year-ago levels to $103.3 million, also trailing the three-analyst consensus looking for $108 million in Q1 sales.
Darling Ingredients (DAR) slid 1.7% after the bio-nutrients company Monday disclosed plans for a $500.0 million private placement of unsecured senior notes, subject to market and other conditions. Net proceeds will fund general corporate purposes, including paying down existing debt and funding potential acquisitions, it said.
Superior Group of Companies (SGC) fell 12% after the clothier Tuesday said it hired Michael Koempel to be its new chief financial officer. Koempel most recently was chief operating officer at privately held IT'SUGAR and he succeeds Andrew Demott Jr, who resigned as CFO on Tuesday but is staying on as chief operating officer prior to retiring sometime in 2023, the company said.
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