Consumer Cos Up for Holiday Shopping Season Optimism - Consumer Roundup

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Retailers and other consumer goods companies rose after market traders released surprising predictions for the holiday shopping season.

Best Buy’s consumer electronics division took a hit after showing that holiday sales aren’t as low as investors had feared.

Shares of Dick’s Sporting Goods rose after the sportswear group said it would take a more aggressive approach to holiday marketing.

Discounter Burlington also forecast a strong holiday season, while Abercrombie & Fitch and American Eagle posted better-than-expected earnings results for the third quarter.

Dollar Tree raised its sales for the year, but warned that higher prices and a shift to lower-ticket items could hurt profits.

In one sign of a tougher approach to the Black Friday weekend, more than a quarter of households surveyed by research firm S&P Global Market Intelligence said they will spend less on holiday shopping this year.

Contact Rob Curran at [email protected]

(END) Dow Jones Newswires

November 22, 2022 17:03 ET (22:03 GMT)

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