Shares of retailers and other consumer companies fell amid concerns about demand going into the holiday shopping season.
Best Buy shares plunged after the electronics chain posted a decline in e-commerce sales during the quarter ended Oct. 30, reflecting a slowdown in online shopping after the pandemic boom.
Similarly, sportswear purveyor Dick's Sporting Goods reported flat online sales in the same quarter, after they had nearly doubled a year earlier.
Two supermarket chains in the southeastern U.S., Publix Super Markets and Winn-Dixie, are limiting the number of Thanksgiving staples customers can buy, as holiday demand meets supply-chain issues.
Consumers are spending freely on sporting goods and kitchen appliances, but they are doing more of their shopping in stores than they did last year when Covid-19 restrictions upended the holiday shopping season.
Oaktree Capital Management's luxury-cruise venture Ritz-Carlton Yacht Collection is exploring raising fresh financing amid construction delays and pandemic restrictions that repeatedly postponed a planned launch of luxury liners, The Wall Street Journal reported.
Jack in the Box and Cracker Barrel Old Country Store were the latest restaurant chains boosting prices to try and compensate for increasing labor and commodity costs.
Food processor J.M. Smucker said sales in the fiscal second quarter rose, as it passed on cost increases in the form of higher prices.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-23-21 1657ET
