08:50 AM EDT, 05/17/2024 (MT Newswires) -- Consumer stocks were advancing premarket Friday, with the Consumer Staples Select Sector SPDR Fund (XLP) 0.4% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.3%.

GameStop ( GME ) shares were down more than 21% after the company said it expects fiscal Q1 net sales of $872 million to $892 million, compared with $1.24 billion a year earlier. The company also filed a prospectus supplement related to an offering of up to 45 million Class A common shares.