Upbeat Earnings Lift Consumer Sector -- Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies climbed.

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MGM Resorts International shares were higher after the company reported third-quarter results above forecasts and a rise in U.S. casino sales but a decline in revenue in China.

Sears said sales at its existing namesake domestic stores plunged 17% in the third quarter, following a string of negative comparable-store sales dating back to the third quarter of 2014. Sales at existing Kmart stores dropped 13% in the third quarter.

Luxury conglomerate LVMH Louis Vuitton Moet Hennessy announced a reshuffle of its executive team, naming the head of Fendi as the new chief executive of Christian Dior. Sidney Toledano plans to step aside after 20 years as chief executive of Christian Dior Couture.

Nissan Motor Chief Executive Hiroto Saikawa said fierce competition in the U.S. has been eating into margins, meaning the company needs to prioritize profits despite his boss Carlos Ghosn's ambitious growth targets for the company.

Investors won a small victory in their battle to force Volkswagen to compensate them for share losses suffered in the wake of the German car maker's diesel emissions-cheating scandal.

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-By Amy Pessetto, amy.pessetto@wsj.com

(END) Dow Jones Newswires

November 08, 2017 17:53 ET (22:53 GMT)