On Tuesday after the closing bell, we'll hear from two major companies on the earnings front: Ascena Retail Group (ASNA) and Bob Evans Farms (BOBE) . Ahead of the restaurant operator's second-quarter fiscal 2016 earnings, analysts are calling for a profit of $0.39 a share on over $300 million in revenue. Earnings are expected to increase from a year ago, while sales are estimated to decline. In the same period last year, the company earned $0.36 a share on revenue of $333.28 million.
Two weeks ago, Bob Evans appointed Saed Mohseni as its new CEO. Previously, he was the head of Bravo Brio Restaurant Group. Mohseni said that he hopes to make Bob Evans a national brand. His new role, starting Jan. 1, fills the leadership void at the company left when previous CEO Steve Davis resigned after a proxy battle with an activist investor.
Overall, the company has been challenged. It's been experiencing a sales slump as competition grows in the breakfast market, especially since McDonald's (MCD) last month rolled out its all-day breakfast initiative. Based in New Albany, Ohio, Bob Evans Farms operates 549 restaurants in 19 states, mostly in the Midwest, mid-Atlantic and Southeast. Its foods division also produces and distributes pork sausage and other refrigerated and frozen food.
Additionally, we'll see several key economic reports. Motor vehicle sales figures for November are expected to roll out throughout the day. In the morning, the Redbook, which tracks retail sales, comes out, followed by the PMI manufacturing index, the ISM manufacturing index and construction spending. Also in the afternoon, Chicago Fed President Charles Evans is scheduled to give a speech on the economy in Michigan.