09:11 AM EDT, 07/09/2025 (MT Newswires) -- Consumer stocks were flat to higher premarket Wednesday as the Consumer Staples Select Sector SPDR Fund ( XLP ) was up 0.3% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) was inactive recently.

Starbucks ( SBUX ) China has attracted offers from nearly 30 private equity firms with valuations ranging from $5 billion to $10 billion, CNBC reported, citing people familiar with the matter. Shares of Starbucks ( SBUX ) were up more than 2% pre-bell.

Alibaba Group ( BABA ) shares were down more than 2% after the company said it completed its $12.02 billion Hong Kong dollars ($1.53 billion) private offering of bonds exchangeable into shares of its subsidiary Alibaba Health Information Technology.

Birks (BGI) shares were up more than 3% after the company said it has completed its 9 million Canadian dollar ($6.6 million) acquisition of the watch and jewellery business of European Boutique from its founders, the Sutkiewicz family.