Shares of retailers and other consumer-services companies fell amid fears about the impact of two major hurricanes on major U.S. retail markets. After the disruption to Houston's economic activity for much of this month, Hurricane Irma threatens to paralyse southern Florida. Kroger shares fell after the supermarket chain reported a steep drop in quarterly profit, reflecting the price war among grocers. The turnarounds in luxury brands such as Coach and Gucci have prompted investors to seek out other luxury retailers who are currently struggling, according to one brokerage. While Burberry or Ralph Lauren could see a rebound comparable to Coach and Gucci, struggles look likely to continue for other brands such as Hugo Boss and Michael Kors, said analysts at brokerage Credit Suisse, in a research note.
-Rob Curran, email@example.com
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(END) Dow Jones Newswires
September 08, 2017 16:44 ET (20:44 GMT)