09:07 AM EDT, 05/17/2024 (MT Newswires) -- Consumer stocks were advancing premarket Friday, with the Consumer Staples Select Sector SPDR Fund ( XLP ) 0.4% higher and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) up 0.1%.

GameStop ( GME ) stock was down more than 19% after the company said it expects fiscal Q1 net sales of $872 million to $892 million, compared with $1.24 billion a year earlier. The company also filed a prospectus supplement related to an offering of up to 45 million Class A common shares.

Despegar.com ( DESP ) stock was up past 12% after the company said overnight it swung to Q1 earnings amid higher revenue.

RLX Technology ( RLX ) shares were up more than 2% after the company reported higher Q1 non-GAAP earnings and revenue.