09:16 AM EDT, 05/24/2024 (MT Newswires) -- Consumer stocks were edging higher premarket Friday as the Consumer Staples Select Sector SPDR Fund ( XLP ) was advancing by 0.3% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) was recently up 0.6%.

Buckle (BKE) fell by more than 1% after it reported lower fiscal Q1 earnings and net sales.

VF (VFC) has reportedly sold off two jets and is seeking to sell a 52,800-square-foot airplane hangar in Colorado as part of efforts to cut costs and raise cash amid declining sales, Bloomberg reported, citing the company. VF was over 1% higher pre-bell.

Alibaba Group Holding ( BABA ) was 0.5% lower after it priced a private offering of $4.5 billion of 0.50% convertible senior notes due 2031.