Consumer Cos Down As Investors Retreat From Economic Recovery Bets -- Consumer Roundup

Shares of retailers and other consumer companies fell as investors retreated from bets on a global economic recovery.

The consumer discretionary industry group on the Standard & Poor's 500 was close to the 10% retreat associated with an official correction.

Royal Caribbean Group and Norwegian Cruise Line Holdings have submitted more than 70 recommendations to federal regulators as to how they plan to protect people on their ships amid the Covid-19 pandemic should they get the go-ahead to resume operations in the U.S.

Bets that casinos, cruise lines and other travel-and-entertainment businesses were set to rapidly rebound from the pandemic appeared to be overdone during the summer, said Steven DeSanctis, equity strategist at brokerage Jefferies.

Ascena Retail Group, the parent company of Ann Taylor and Lane Bryant, won bankruptcy-court approval to sell its plus-size brand Catherines to FullBeauty Brands for nearly $41 million.

Volkswagen is in talks about a potential sale of its Bugatti luxury sports car brand with Croatian electric-car maker Rimac Automobili, The Wall Street Journal reported.

Harley-Davidson named Tyson Foods executive Gina Goetter as chief financial officer, effective Sept. 30.

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