01:32 PM EDT, 08/28/2024 (MT Newswires) -- Consumer stocks were retreating Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 1%.

In corporate news, J.M. Smucker (SJM) lowered its fiscal 2025 guidance amid a slowdown in the convenience channel, while the food producer unexpectedly advanced Q1 earnings year over year. Its shares dropped more than 4%.