Consumer Goods Companies See Sales Surge
A Brexit sales surge is helping consumer goods stocks to rise.
Consumer goods companies are seeing a post-Brexit sales surge. Marks & Spencer saw sales rise 4.3% in its fiscal third quarter. However, the company cautioned that uncertain consumer confidence will hit the company's earnings in the next three months.
Tesco posted solid holiday sales. This helped Britain's biggest supermarket to secure its first market share gain since 2011.
Richemont saw sales rise 5% on strong demand from tourists to the U.K. taking advantage of the lower pound. Following this news, the luxury goods company's stock hit a 52-week high
