Consumer Cos Climb on Strong Jobs Data - Consumer Roundup

Dow Jones07-06

Consumer companies rose amid deal activity.

Luxury chain Saks Fifth Avenue agreed to buy rival Neiman Marcus for about $2.65 billion, with backing from Amazon.com, as high-end retailers fend off competition from fast fashion.

Arkhouse, the real-estate investment firm that has offered to buy department-store chain Macy's, sweetened its bid by $300 million.

United Kingdom home-builders gained after Labour leader Keir Starmer was elected prime minister, as traders anticipated a wave of affordable-home subsidies.

Koss shares rallied amid online chatter that the headphone maker is the latest "meme" stock.

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

(END) Dow Jones Newswires

July 05, 2024 16:49 ET (20:49 GMT)

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