01:29 PM EDT, 04/04/2024 (MT Newswires) -- Consumer stocks were higher Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) gaining 1%.

In corporate news, Lamb Weston ( LW ) shares dropped nearly 19% after it reported weaker-than-expected fiscal Q3 results and lowered its full-year guidance amid soft retail traffic trends and an internal systems transition that impacted fulfillment.