01:33 PM EDT, 08/22/2024 (MT Newswires) -- Consumer stocks were lower Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1.4%.

In corporate news, Advance Auto Parts ( AAP ) shares tumbled past 16%. The company reported a bigger-than-expected drop in fiscal Q2 earnings and cut its full-year outlook, while it also announced the sale of its Worldpac wholesale business to Carlyle (CG) for $1.5 billion in cash.