Retailers and other consumer companies fell as optimism about holiday shopping and travel trends cooled.
Southwest Airlines shares fell after the discount carrier’s struggles with cancellations continued. Rival carriers United Airlines, Delta Airlines and American Airlines have capped fares in some cities in response to an influx of last-minute bookings made after the wave of cancellations.
Southwest canceled more than 2,500 flights, or 62% of its scheduled Wednesday departures, according to data from FlightAware. Chief Executive Bob Jordan said the company was working hard to end the “rolling struggle” arising from the mass cancellations.
U.S. pending-home sales fell 4% in November, for the sixth straight monthly drop, according to the National Association of Realtors, reaching the lowest level since the depths of the pandemic in April 2020.
U.K. retailers such as JD Sports Fashion and Next rose after industry data showed high-street shopper numbers on Dec. 26, known as Boxing Day in the U.K., rose sharply from a year earlier.
Write to Rob Curran at rob.curran@dowjones.com
Consumer Cos Down as Holiday-Shopping Optimism Cools — Consumer Roundup
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