09:13 AM EDT, 10/16/2024 (MT Newswires) -- Consumer stocks were edging higher premarket Wednesday as the Consumer Staples Select Sector SPDR Fund ( XLP ) was slightly advancing and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) was up 0.1% recently.

Container Store Group ( TCS ) shares advanced by over 37% after the company said it signed an agreement for a $40 million investment from Beyond (BYON).

Jumia Technologies ( JMIA ) shares were up more than 1% after the company said it plans to close its operations in South Africa and Tunisia by year-end 2024 to focus its resources on its "most promising markets."