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Consumer Shares Flat Amid Gains by Consumer Discretionary Stocks -- Consumer Roundup

06/08/2021 | 05:04pm EDT

Shares of retailers and other consumer companies were flat as gains in consumer discretionary stocks offset losses in consumer staples shares.

Discount retailer Big Lots is investing in new stores and distribution centers as it capitalizes on higher sales driven by federal stimulus checks and the recent home-improvement craze.

Tesla's sales in China rebounded in May after a short slump, a boost for the electric-vehicle maker as it looks to overcome its first major stumble in one of its most important markets.

Meanwhile, a longtime Tesla executive who was overseeing the electric-vehicle maker's heavy-trucking efforts left the company last week, Tesla disclosed in a brief securities filing.

Electric-truck startup Lordstown Motors disclosed in a regulatory filing Tuesday that it doesn't have sufficient cash to start commercial production and has doubts about whether it can continue as a going concern through the end of the year.

British American Tobacco on Tuesday raised its full-year revenue guidance but said it doesn't expect its travel retail business to recover from the coronavirus pandemic before next year.

Shares in Wendy's soared more than 25% after the company became very popular on financial social media, with mentions of the stock increasing more than 4,000 in just 24 hours, maybe after a tongue-in-cheek post about why it's the hot new meme stock.

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

(END) Dow Jones Newswires

06-08-21 1703ET

Stocks mentioned in the article
ChangeLast1st jan.
BIG LOTS, INC. 0.28% 60.66 Delayed Quote.40.90%
BRITISH AMERICAN TOBACCO PLC 1.24% 2769 Delayed Quote.1.00%
DJ INDUSTRIAL 0.68% 35061.55 Delayed Quote.13.69%
LORDSTOWN MOTORS CORP. -8.67% 7.48 Delayed Quote.-59.17%
TESLA, INC. -0.91% 643.38 Delayed Quote.-7.99%
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