Shares of retailers and other consumer companies rose amid signs that American shoppers continue spending heavily, despite renewed Covid-19 spread in many parts of the U.S. and persistently high unemployment.

In a good sign for consumer spending, FedEx reported better-than-expected fiscal fourth-quarter sales.

Department store Macy's said nearly all its stores have reopened after a monthslong closure due to the Covid-19 pandemic, though the retailer warned it could take other measures as states tally more coronavirus infections.

Coca-Cola is discontinuing its Odwalla juice business, and a refrigerated trucking network that delivered fresh drinks to stores, the latest sign of big brands narrowing their focus during the coronavirus pandemic. It's one of the soda giant's biggest ever brand eliminations, which will result in the loss of 300 jobs.

Major auto makers reported sharp drops in second-quarter U.S. vehicle sales, as sweetened discounts and financing deals could not offset factory and dealership closures from the Covid-19 pandemic. 



  Write to Rob Curran at rob.curran@dowjones.com