Consumer Cos Up After Strong Job Turnover Data -- Consumer Roundup

12/08/2021 | 05:17pm

Shares of retailers and other consumer companies ticked up amid growing economic confidence.

The Labor Department's latest U.S. job openings and labor-turnover survey indicated job openings rose to 11 million in October, as 4.2 million workers quit their jobs, suggesting employers were having difficulty hanging onto workers. Fresh consumer-price index data on Friday will offer investors some insight into cost increases.

McDonald's said it would offer $250 million in low-interest loans to new franchisees over the next five years as a way to help increase diverse ownership of its U.S. restaurants.

Nestle agreed to reduce its stake in L'Oréal in a $10 billion deal that allows the world's biggest packaged-foods maker to capitalize on a rally in the French beauty giant's share price.

A special-purpose acquisition company backed by British billionaire Richard Branson's Virgin Group is merging with natural-consumer-products seller Grove Collaborative to take it public in a deal the companies value at $1.5 billion, the companies said.

Dozens of Starbucks workers in the Buffalo, N.Y., area are set to conclude voting on whether to organize.

Southwest Airlines boosted its revenue projection and reduced its estimate for fuel costs for the fourth quarter.

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

(END) Dow Jones Newswires

12-08-21 1717ET

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