Consumer Cos Down On Bricks-And-Mortar Fears -- Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies declined as fears about the future of bricks-and-mortar stores persisted.

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United Parcel Service said it's taking longer than expected to deliver some packages because of an "unprecedented" surge in online orders.

The Institute for Supply Management, a trade group, said Tuesday its index of nonmanufacturing activity stood at 57.4 in November, down slightly from October but elevated in a broader context.

Food processing giant Nestle agreed to buy Canadian vitamin maker Atrium Innovations for $2.3 billion, including the assumption of debt. Atrium owns Garden of Life and Pure Encapsulations supplement brands and is owned by a consortium of investors led by private-equity firm Permira.

As investors prepare for a future of automated cars, one brokerage argues they should consider the entertainment options opened up to people who no longer have to watch the road. "While seating and interiors may not scream Artificial Intelligence/tech as loudly as robo-driving, it is arguably the most valuable real estate in the car for consumer experience, engagement, content, and data," said analysts at brokerage Morgan Stanley, in a research note. The analysts view "seating and interiors as a strategically important and underappreciated part of the shared/autonomous car business model."

--Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

December 05, 2017 16:28 ET (21:28 GMT)