Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Consumer Cos Down Sharply On Covid Spread Concerns -- Consumer Roundup

07/30/2021 | 04:56pm EDT

Shares of retailers and other consumer companies fell sharply amid concerns about the implications of rising Covid 19 cases in the U.S.

A Commerce Department report confirmed a sharp increase in U.S. household spending bounced back in June as consumers shelled out more on services at the start of the summer, but a current upswing in Covid-19 cases related to the Delta variant is injecting uncertainty into the economic outlook.

Walmart is requiring corporate staffers and regional managers to get vaccinated for Covid-19 and is reinstating a mask mandate for workers in U.S. counties deemed at high risk of Covid transmission.

Inflation concerns are building among corporations and consumers. Procter & Gamble said it would hike prices to compensate for increases in commodity and ingredient costs. Shares of the consumer-products giant rose.

Rival Colgate-Palmolive said profit rose in the second quarter, benefiting from a rise in revenue, but cost pressures are expected to continue into the second half of the year.

International Consolidated Airlines Group said it was prepared to take advantage of a surge in air travel demand in line with increasing vaccination rates. Luxury concerns continued to register strong earnings, with Hermes the latest to post sales above prepandemic levels.

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

(END) Dow Jones Newswires

07-30-21 1655ET

Latest news "Economy & Forex"
09:24aAustralia made 'huge mistake' in cancelling submarine deal, says French envoy
RE
09:00aUK business minister meets energy bosses over soaring gas prices
RE
08:04aGermany's Laschet says trusts ECB to keep inflation in check
RE
07:46aMalaysia warns new Indo-Pacific pact may trigger nuclear arms race
RE
06:41aAustralia made 'huge' mistake' cancelling submarine deal, says French ambassador
RE
06:29aChina will steadily promote yuan internationalisation in 2021, central bank says
RE
05:50aChina's August exports to North Korea up for third month
RE
05:31aFactbox-Key economic policy stances of candidates to be Japan's next PM
RE
03:43aJapan's PM contender Kishida says won't raise sales tax for a decade
RE
03:36aGoogle says it will work with india antitrust authority to show android has led to more competition, not less
RE
Latest news "Economy & Forex"