Consumer Cos Up on Deal Activity -- Consumer Roundup

Retailers and other consumer companies rose amid deal activity.

Canada's Ritchie Bros. Auctioneers agreed to boost the cash portion of its offer for U.S. auto retailer IAA, in a move that won the support of activist investor Starboard Value, which had challenged the deal. IAA shares surged amid relief at the prospect of the deal closing.

Sharpie and Rubbermaid's parent company, Newell Brands, is laying off 13% of its office staff in a bid to cut up to $250 million in costs.

Skechers USA shares rose after analysts at brokerage Cowen said the budget shoe maker's offerings were "resonating" with cash-strapped consumers.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

01-23-23 1726ET