09:13 AM EDT, 06/04/2024 (MT Newswires) -- Consumer stocks were leaning lower premarket Tuesday as the Consumer Staples Select Sector SPDR Fund ( XLP ) was down less than 0.1% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) recently declined by 0.3%.

Bath & Body Works ( BBWI ) shares fell by over 6% after the company reported fiscal Q1 net sales of $1.38 billion, down from $1.40 billion a year earlier.

Trip.com ( TCOM ) shares were down more than 3% amid plans to offer $1.3 billion in aggregate principal amount of convertible senior notes due 2029 to qualified institutional buyers.

Philip Morris International ( PM ) said it now expects 2024 adjusted diluted earnings forecast of $6.26 to $6.38 per share. That compares with the company's previous guidance of $6.19 to $6.31. Philip Morris International ( PM ) shares were 0.1% lower pre-bell.