Consumer Companies Up Amid Deal Prospects - Consumer Roundup

FeaturesDow Jones Newswires

Shares of retailers and other consumer-services companies rose amid deal prospects.

Investment firm Cerberus Capital Management is working on a bid for teen-apparel retailer Abercrombie & Fitch alongside American Eagle Outfitters, which could give American Eagle the edge over competing bidders for its struggling rival.

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IKEA Chief Executive Peter Agnefjall resigned in a surprise move less than four years after stepping into the role.

Existing-home sales fell 2.3% in April from March's revised level to a seasonally adjusted annual rate of 5.57 million -- partly because of tight inventory -- according to the National Association of Realtors.

(-By Rob Curran,

(END) Dow Jones Newswires

May 24, 2017 16:27 ET (20:27 GMT)