Consumer companies fell after mixed earnings.

Target's comparable sales, those from stores and digital channels operating at least a year, fell 3.7% in three months ended May 4, the fourth straight quarter of declines.

Shares of high-end home-goods store Williams Sonoma rallied after the San Francisco retailer posted first-quarter earnings and revenue ahead of Wall Street targets.

TJX shares rose after the discounter boosted its earnings forecast for the year, reflecting lower freight costs and the growing popularity of cut-price clothing among wealthier shoppers.

Shares of home builders slid after weak sales data and earnings.

Home sales fell in April for the second straight month, as high mortgage rates and near-record home prices continue to stall the market during the prime selling season.

In one sign that the housing market remains hot, luxury home builder Toll Brothers said roughly 30% of its customers are first-time buyers, many of whom are millennials.

Falling mortage rates boosted demand for loans last week, the Mortgage Bankers Association said.

Vans sneaker purveyor VF said its loss nearly doubled in the first three months of the year as sales sank 13% while the company tried to right-size inventories.


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

(END) Dow Jones Newswires

05-22-24 1730ET