08:51 AM EDT, 06/05/2024 (MT Newswires) -- Consumer stocks were edging higher pre-bell Wednesday with the Consumer Staples Select Sector SPDR Fund (XLP) and Consumer Discretionary Select Sector SPDR Fund (XLY) recently up nearly 0.1%.

Hanesbrands ( HBI ) rallied past 15% after saying it has agreed to sell certain operating assets and intellectual property of its global Champion business to Authentic Brands Group, with the deal valued at $1.2 billion.