Consumer Cos Down After Amazon Move, Housing Data -- Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies ticked down after another aggressive move by online retailer Amazon.com to challenge bricks-and-mortar incumbents and weak housing data.

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Shares of grocery store chains such as Kroger, Costco Wholesale and Sprouts Farmers Market fell sharply after Amazon said it would cut the prices of top-selling grocery staples at Whole Foods.

Amazon said it will also establish its Prime service as a loyalty program for Whole Foods customers, with extra discounts and other perks.

Sales of previously owned homes fell 1.3% to a seasonally adjusted annual rate of 5.44 million, the National Association of Realtors said, in another instance of tight inventory weighing on activity.

An uptick in sales of less-expensive fashion accessories boosted earnings for jewelry sellers Signet Jewelers and Tiffany, who both surpassed Wall Street targets with their quarterly sales reports.

-Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

August 24, 2017 16:44 ET (20:44 GMT)