Consumer Companies Lower on Inflation Fears -- Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies fell amid fears that rising prices would stymie demand.

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Money manager Yacktman Asset Management entered the proxy fight against Procter & Gamble, backing the candidacy of activist investor Nelson Peltz and his campaign to restructure the consumer-products giant.

Analysts at brokerage Nomura Securities said another decline in "sales growth of property-related goods, such as furniture and construction & decoration materials" was "a sign of a further cooling property sector" in China.

Separately, analysts at brokerage Morgan Stanley said casinos in Macau, including those operated by MGM, were seeing more one-time visitors from the Chinese mainland but fewer frequent visits from high rollers.

South Korean conglomerate Lotte Group said it plans to sell its Lotte Mart stores in China after heavy losses brought on by diplomatic tensions between Seoul and Beijing.

Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

September 14, 2017 17:15 ET (21:15 GMT)