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Consumer Cos Down as Holiday Shopping Optimism Fades -- Consumer Roundup

12/07/2022 | 05:42pm EST

Retailers and other consumer companies fell as optimism about the holiday shopping outlook faded.

A strong showing for retailers on Black Friday Weekend, the biggest shopping weekend of the year, was misleading, warned Walmart Chief Executive Doug McMillon, arguing that inflation accounted for much of the growth.

Lowe's shares rose after the home improvement retailer updated investors on its outlook and long-term growth plans.

Campbell Soup shares rose to multiyear highs after the maker of comfort food boosted its sales and profit projection, as it succeeded in passing cost increases onto customers.

Vera Bradley Chief Executive Jackie Ardrey offered a frank assessment of the economic backdrop after acknowledging pressures on less affluent spenders seen in the company's latest earnings report.

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

(END) Dow Jones Newswires

12-07-22 1741ET

Stocks mentioned in the article
ChangeLast1st jan.
CAMPBELL SOUP COMPANY 0.91% 51.13 Delayed Quote.-10.71%
VERA BRADLEY, INC. 1.46% 5.55 Delayed Quote.20.75%
WALMART INC. 0.77% 143.3 Delayed Quote.0.30%
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