03:51 PM EST, 03/06/2024 (MT Newswires) -- Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.4%.

In corporate news, Paramount Global ( PARAA ) is in advanced talks to sell its minority stake in India's Viacom18 Media to Reliance Industries, Bloomberg reported. Paramount shares gained 2.6%.

Foot Locker ( FL ) shares plunged past 30%. The company pushed back its long-term core profitability target and said it won't restart dividend payments even as fiscal Q4 results came in ahead of expectations, while the retailer laid out a full-year earnings target that trailed Wall Street's view.

Nordstrom ( JWN ) shares sank 16% as the retailer said consumers were still cautious about making purchases and warned that revenue could decline this year even after topping analysts' expectations in Q4 amid gains for its Rack off-price chain.

Brown-Forman (BF.A, BF.B) lowered its full-year sales growth outlook after sales unexpectedly declined in fiscal Q3 in what the company referred to as an ongoing post-pandemic normalization of alcohol-consumption trends. Its shares tumbled past 7%.