Consumer stocks were mixed as investors put money into discretionary categories, while they rotated out of some staples.
Kroger's operating costs are growing faster than its sales, presenting a major challenge for the grocery chain's new management team.The grocer reported a bigger fiscal first-quarter profit while sales rose about 2% to $46.12 billion, ahead of analyst targets. But costs are climbing as the company spends more to increase store hours, improve employee training and outfit workers with new uniforms. Higher fuel prices are driving up its freight costs and eating into gross margin.
Take-Two Interactive Software said preorders for its hotly anticipated Grand Theft Auto VI begin June 25 on digital storefronts and at select retailers.
Smith & Wesson Brands sales rose by more than a quarter in its latest quarter, as new products, especially handguns, helped the gun maker gain market share.
L'Oreal said it has signed an agreement to acquire a majority stake in India's beauty and personal care brand Innovist to boost the company's presence in the country.
