Consumer Cos Down as Bed, Bath & Beyond Slides — Consumer Roundup

Retailers and other consumer companies fell as one major retailer was poised to go bankrupt.

Bed Bath & Beyond slid after The Wall Street Journal reported that the homeware chain was likely to file for bankruptcy within weeks, after inflation-stricken consumers mostly stayed away from its stores during the holiday season.

US employers added 235,000 workers to payrolls in December, accelerating from November levels, according to ADP’s private-sector jobs survey.

The S&P Global US Services PMI decreased to 44.7 in December from 46.2 in November, slightly up from its preliminary reading of 44.4 Constellation Brands tumbled after the brewer of Corona and other beers warned that higher supply-chain costs had eaten into its profit.

Food processor Conagra Brands expects inflation to moderate in coming months, even as it prepares for another round of price increases.

Online personal shopping service Stitch Fix said it’s cutting 20% ​​of salaried jobs.

Fitness gear maker Peloton Interactive agreed to pay a $19.1 million fine tied to the company’s handling of a treadmill recall in 2021.

Write to Rob Curran at [email protected]

(END) Dow Jones Newswires

01-05-23 1711ET

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