01:50 PM EDT, 05/23/2024 (MT Newswires) -- Consumer stocks fell Thursday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.8% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 1.2%.

In corporate news, the US Justice Department and 30 state and district attorneys general sued Ticketmaster parent Live Nation (LYV), saying the company should be broken up because it has a monopoly in ticketing and concert promotion. Live Nation shares tumbled 7.78%.

Ralph Lauren ( RL ) offered a downbeat revenue outlook for the first quarter of its 2025 fiscal year, impacted by foreign-exchange headwinds, while the luxury apparel company appointed a new chief financial officer. The company's shares rose 3.9%.

BJ's Wholesale Club (BJ) reported stronger-than-expected fiscal Q1 results on Thursday as comparable sales and membership fees climbed, while the warehouse club operator affirmed its full-year outlook. Its shares climbed 2.5%.