08:48 AM EST, 11/22/2024 (MT Newswires) -- Consumer stocks were edging higher premarket Friday as the Consumer Staples Select Sector SPDR Fund (XLP) was advancing 0.01% and the Consumer Discretionary Select Sector SPDR Fund (XLY) was flat recently.

Tapestry (TPR) shares advanced by over 3% after the company announced accelerated share repurchase deals with Bank of America and Morgan Stanley to buyback $2 billion of its common shares.