01:23 PM EST, 02/24/2025 (MT Newswires) -- Consumer stocks were higher Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.3%.

In corporate news, Starbucks ( SBUX ) said Monday that it's cutting 1,100 non-retail support partner roles and eliminating "several hundred" unfilled positions as part of an effort to simplify the organization's structure. Additionally, Starbucks ( SBUX ) will remove 13 beverages from its offerings as part of a move to simplify its menu, Today.com reported Monday. Starbucks ( SBUX ) shares were rising 1.3%.