Consumer Shares Rally, Led by Consumer Discretionary Stocks -- Consumer Roundup

Shares of retailers and other consumer-services companies were higher, led by consumer discretionary stocks.

General Mills posted higher sales for the latest quarter, though gross margin fell due to inflation and higher supply-chain costs. The maker of Cheerios cereal and Betty Crocker cake mix said it expects higher inflation ahead as the food giant grapples with growing labor, transport and supply-chain costs.

Traton said that shortages of semiconductors and other parts are hitting sales in the third quarter and are expected to continue into the next year.

Volkswagen's truck maker said vehicle sales in the current quarter will be significantly lower than planned due to the shortages, which it expects to continue into and beyond the fourth quarter. All of its brands, including recently acquired Navistar, are affected, it said.

Shares of Stitch Fix jumped nearly 17% after the online personal shopping and styling service's fourth-quarter results beat analyst estimates and annual sales reached $2 billion for the first time.

 Write to Amy Pessetto at [e-mail] 

(END) Dow Jones Newswires

09-22-21 1730ET