Markets
VFC

Consumer Sector Update for 08/13/2018: VFC,BKS

Top Consumer Stocks

WMT -0.57%

MCD -0.41%

DIS -0.36%

CVS -0.45%

KO -0.46%

Consumer stocks were narrowly lower Monday, with shares of consumer staples companies in the S&P 500 sinking nearly 0.4% after noon while shares of consumer discretionary firms in the S&P 500 were falling almost 0.5%.

Among consumer stocks moving on news:

- VF Corp. ( VFC ) was down almost 4% Monday afternoon after the apparel company confirmed market speculation it is planning to spin off its denim business into a stand-alone, publicly traded company. The yet-to-be-named company will hold VF's Wrangler and Lee jeans businesses along with its chain of outlet stores and allow the predecessor company to focus on its apparel and footwear brands. The new company also is projected to generate over $2.5 billion and a high single-digit total shareholder return target.

In other sector news:

+ Barnes & Noble ( BKS ) was rising Monday afternoon following reports company founder Leonard Riggio has met with several large publishers to assure them he has a turnaround plan for the bookstore chain despite a string of recent CEO departures. According to the Wall Street Journal, publishers have been worried over the frequent disarray for the book seller in the wake of five chief executives leaving Barnes & Noble since 2013.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

VFC

Other Topics

Commodities