Consumer Stocks Mostly Lower

Consumer stocks were trading most lower this afternoon, with share of consumer staple companies in the S&P 500 dropping almost 0.4% while shares of consumer discretionary firms in the S&P 500 were posting a nearly 0.9% decline in recent trade. In company news, Stein Mart (SMRT) declined on Thursday, falling to a session low of $1.09 a share soon after today’s opening bell and following the apparel retailer last night swinging to a Q2 net loss, missing Wall Street estimates, as sales slid compared with year-ago levels.

Net loss was $0.28 per share during the three months ended July 29, reversing a $0.06 per share profit during the same quarter last year and missing the Capital IQ consensus by $0.08 per share. Net sales dropped 2.7% from last year to $311.04 million, beating the $303.97 analyst mean.

By Chris Robinson