Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexCryptocurrenciesCybersecurityPress Releases

Consumer Shares Fall Led by Consumer Discretionary Stocks -- Consumer Roundup

08/09/2022 | 05:08pm EDT

Shares of retailers and other consumer companies were lower as consumer discretionary shares led decliners.

Consumers are still splurging on Ralph Lauren polos and Jimmy Choo shoes, helping those brands buck the inventory troubles and spending shifts that have tripped up other retailers this year.

Ralph Lauren said Tuesday that revenue rose 8% in its first quarter and is on track to rise about 11% for its fiscal second quarter.

Capri Holdings, which owns Versace and Jimmy Choo as well as Michael Kors, said quarterly revenue rose 8.5%, despite declines in China, a key market.

Two other retailers, sneaker brand Allbirds and mall chain Signet Jewelers, warned that high inflation was pinching U.S. consumers. Shares of Allbirds fell nearly 20%, and Signet dropped 13%, Tuesday after the two companies lowered financial targets for the year.

Ford's new all-electric truck is getting a price increase fewer than four months after it started shipping to dealerships for the first time. The Dearborn, Mich., auto maker said it plans to reopen the order bank for its new F-150 Lightning truck this week and will raise prices between 7% and 18% for many configurations.

Shares of Norwegian Cruise Line Holdings fell sharply after the cruise company predicted it would continue to be unprofitable in the third quarter. Hyatt Hotels joined rivals Marriott and Hilton in reporting a solid quarter, sending its shares higher.


Write to Amy Pessetto at amy.pessetto@dowjones.com

(END) Dow Jones Newswires

08-09-22 1707ET

Stocks mentioned in the article
ChangeLast1st jan.
ALLBIRDS, INC. -0.65% 3.04 Delayed Quote.-79.84%
CAPRI HOLDINGS LIMITED -1.94% 38.44 Delayed Quote.-40.78%
HYATT HOTELS CORPORATION -0.47% 80.96 Delayed Quote.-15.58%
NORWEGIAN CRUISE LINE HOLDINGS LTD. -18.04% 11.36 Delayed Quote.-45.23%
RALPH LAUREN CORPORATION -2.68% 84.93 Delayed Quote.-28.55%
SIGNET JEWELERS LIMITED 2.31% 57.19 Delayed Quote.-34.29%
Latest news "Economy & Forex"
02:49pCredit Suisse executives reassure investors after CDS spike -FT
RE
02:18pTrump staffers not returning White House records, National Archives says
RE
02:13pBosnia's peace envoy imposes changes to election law
RE
02:01pUK's Kwarteng favours outsider to run finance ministry, newspapers say
RE
01:54pU.S. and Turkish officials discuss Ukraine and NATO in unannounced meeting
RE
01:39pUK sees improving 'mood music' on Northern Ireland protocol
RE
01:35pBritain to acquire two specialist ships to protect underwater infrastructure
RE
01:18pBolsonaro, Lula cast votes in Brazil's heated election
RE
12:49pItaly's Eni says it will not receive Russian gas requested for Monday
RE
12:48pOPEC+ to consider oil cut of over than 1 million bpd - sources
RE
Latest news "Economy & Forex"