08:48 AM EDT, 09/09/2024 (MT Newswires) -- Consumer stocks were advancing pre-bell Monday as the Consumer Staples Select Sector SPDR Fund (XLP) was 0.3% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) was recently up 0.9%.

Big Lots ( BIG ) shares plunged by over 40% after the company said it has filed for Chapter 11 bankruptcy proceedings with the US Bankruptcy Court for the District of Delaware, and agreed to sell substantially all of its assets and ongoing business operations to Nexus Capital Management.