Consumer Cos Down Amid Flight From Risky Sectors -- Consumer Roundup
Shares of retailers and other consumer companies fell as a flight from risk interrupted a recent recovery in the sector. The losses came despite data from the Institute for Supply Management showing that its services survey hit a 10-year high of 59.9 in January, rising from 56 in December. That suggests both an increase in retail-industry activity and a positive outlook for discretionary spending, given the importance of the services sector to the labor market. Hudson's Bay tapped a CVS Health executive Helena Foulkes as its next chief executive. Kroger agreed to sell its convenience-store business to privately held U.K.-based EG Group for $2.15 billion, the companies said Monday.
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
February 05, 2018 16:54 ET (21:54 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.