Consumer Cos Down After Amazon Move, Housing Data -- Consumer Roundup

Shares of retailers and other consumer-services companies ticked down after another aggressive move by online retailer to challenge bricks-and-mortar incumbents and weak housing data.

Shares of grocery store chains such as Kroger, Costco Wholesale and Sprouts Farmers Market fell sharply after Amazon said it would cut the prices of top-selling grocery staples at Whole Foods.

Amazon said it will also establish its Prime service as a loyalty program for Whole Foods customers, with extra discounts and other perks.

Sales of previously owned homes fell 1.3% to a seasonally adjusted annual rate of 5.44 million, the National Association of Realtors said, in another instance of tight inventory weighing on activity.

An uptick in sales of less-expensive fashion accessories boosted earnings for jewelry sellers Signet Jewelers and Tiffany, who both surpassed Wall Street targets with their quarterly sales reports.

-Rob Curran,

(END) Dow Jones Newswires

August 24, 2017 16:44 ET (20:44 GMT)