Shares of most retailers and other consumer-services companies were more or less flat as fears about the changes in the retail landscape were offset by one surprisingly optimistic outlook. Shares of Target rallied after the discounter boosted its same-store sales and earnings projections, saying sales trends have improved as it prepares to launch new brands. Big swings in shares of companies such as Macy's and Target -- triggered by diminishing sales and foot traffic -- have lured day traders and bargain-hunting value investors, driving up volumes, The Wall Street Journal reported. Macy's saw higher average volumes in its shares traded in June than during any month since 2011. Tiffany named Alessandro Bogliolo its new chief executive, as the jeweller aims to revamp its brand to appeal to younger shoppers. Delta shares dipped 1.2% following the airline company's quarterly profit miss.
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(END) Dow Jones Newswires
July 13, 2017 16:46 ET (20:46 GMT)