Consumer Cos Up, But Not By Much, On Mixed Earnings -- Consumer Roundup
Shares of retailers and other consumer-services companies rose, but not by as much as the broad market, after mixed earnings reports.
The sector has regained strength recently as fears that Amazon.com would extinguish competition from bricks-and-mortar retailers have faded somewhat. Shares of Sears Holding initially rallied after the chain store's chief financial officer said specialized stores selling mattresses, appliances and car services, among other measures, would help it revive growth. But Sears shares weakened later amid concerns about its earnings report.
Kroger shares rallied after the supermarket chain posted earnings ahead of Wall Street estimates, regaining ground in a competitive struggle against Wal-Mart and new grocery entrant Amazon.
Shares of Michaels Companies rallied after the arts and crafts store posted a quarterly increase in same-store sales.
New jobless claims, a proxy for layoffs across the U.S., decreased 2,000 to a seasonally adjusted 238,000 in the week ended Nov. 25, the Labor Department said Thursday.
-Rob Curran, email@example.com
(END) Dow Jones Newswires
November 30, 2017 16:36 ET (21:36 GMT)