Consumer Stocks Lower Ahead of Opening Bell

Consumer shares were lower ahead of Tuesday’s open.

In sector news, The Finish Line (FINL) fell 30% after the company said late Monday Q2 consolidated net sales were down 3.3% to $469.4 million, driven by a 4.6% decrease in comparable sales. The consensus on Capital IQ is for revenue of $477.7 million. Finish Line also sees Q2 earnings per share of $0.08 to $0.12, while the Street’s view was for $0.38 per share, if comparable.

Finish Line expects comparable sales to decrease 3% to 5% versus previous guidance for an increase in the low-single digit range. Adjusted EPS are now expected to be in the range of $0.50 to $0.60 for the 53-week fiscal year ending March 3, against previous guidance of $1.12 to $1.23. The Street’s view is for $1.11. For fiscal Q3 the the company expects comparable sales to decrease 3% to 5% and the adjusted loss per share to be in the range of $0.32 to $0.40. The Street’s view is for a loss of $0.25 a share. And for Q4, Finish Line sees comparable sales down 3% to 5% and adjusted EPS to be in the range of $0.50 to $0.58, inclusive of a $0.06 per share contribution from an extra week in the quarter. The Street view is $0.74 per share for Q4.