Consumer Cos Down Amid Flight From Risky Sectors -- Consumer Roundup

02/05/18 04:54 PM EST

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, rob.curran@dowjones.com

 

(END) Dow Jones Newswires

February 05, 2018 16:54 ET (21:54 GMT)

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