09:13 AM EDT, 03/18/2024 (MT Newswires) -- Consumer stocks were advancing pre-bell Monday, with the Consumer Discretionary Select Sector SPDR Fund ( XLY ) 0.8% higher and the Consumer Staples Select Sector SPDR Fund (XLP) up 0.1% recently.

Joann ( JOAN ) said it has filed for Chapter 11 bankruptcy protection with the aim of completing the process as soon as late April and emerging as a private company. Joann ( JOAN ) was rallying past 17% in recent premarket activity.

Xpeng ( XPEV ) has announced plans to launch a line of cheaper electrical vehicles under a different brand name, media outlets reported. Xpeng ( XPEV ) was advancing by over 6% pre-bell.

Starbucks ( SBUX ) stockholders on Friday rejected a shareholder proposal requesting a report on the company's human rights policies, according to a filing with the US Securities and Exchange Commission. Starbucks ( SBUX ) was up 0.4% pre-bell.