S&P 500 Earnings Season Splits Consumer Stocks Wide Open
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This week's earnings prints from Starbucks, Lululemon and newly public Jersey Mike's are painting a fragmented consumer picture inside the S&P 500, with implications for the index's discretionary weighting.
Starbucks shows top-line recovery under CEO Niccol but Wall Street is now pressing for margin follow-through rather than just customer counts. Lululemon, by contrast, keeps seeing target cuts even as analysts stop short of calling shares cheap, signalling limited near-term upside for that constituent.
Jersey Mike's debut numbers, however, back up its growth narrative, offering a rare bright spot. The divergence underscores why S&P 500 breadth, not just headline index moves, remains the metric to watch this earnings cycle.