Consumer companies fell as more major chains reported headwinds from tariffs.
Sportswear chain Foot Locker posted a drop in sales for its latest quarter, extending a challenging period for the company ahead of a planned buyout by rival Dick's Sporting Good's. Department store Kohl's posted first-quarter results slightly ahead of its previous expectations, a bright spot for a company facing a difficult operating environment and recently ousted leadership.
Ethan Allen's decision decades ago to make most of its couches, chairs and more in North America could not save it from the knock-on effects of tariffs in its latest report. Ethan Allen's chief executive said tariffs were an issue for the company because uncertainty about their impact had dissuaded consumers from coming to the store. Food processor Hormel Foods trimmed its earnings outlook for the year, which factors in the impact of tariffs and ongoing momentum of brands such as Planters peanuts and its turkey product.
United Airlines and JetBlue Airways are entering a partnership that will expand JetBlue's reach and pave the way for United to resume flights at John F. Kennedy International Airport.
Exorbitant mortgage rates continued to eat into housing demand. The pending home sales index, a leading indicator of house sales based on contract signings, sank 6.3% in April, more than offsetting the 5.5% rise in March.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-29-25 1752ET
