08:47 AM EDT, 05/08/2024 (MT Newswires) -- Consumer stocks were lower to flat premarket Wednesday with the Consumer Staples Select Sector SPDR Fund (XLP) recently inactive and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 1.1%.

Grocery Outlet ( GO ) shares declined by nearly 15% after the company reported fiscal Q1 adjusted earnings of $0.09 per diluted share, down from $0.27 a year earlier. The company also lowered its fiscal 2024 adjusted EPS outlook.