09:09 AM EDT, 06/05/2024 (MT Newswires) -- Consumer stocks were mixed pre-bell Wednesday with the Consumer Staples Select Sector SPDR Fund ( XLP ) recently up 0.1% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) down 0.2%.

Hanesbrands ( HBI ) shares rallied past 13% after the company said it has agreed to sell certain operating assets and intellectual property of its global Champion business to Authentic Brands Group, with the deal valued at $1.2 billion.

Ollie's Bargain Outlet Holdings (OLLI) advanced by over 6% after it reported higher fiscal Q1 adjusted earnings and revenue. The company also raised its fiscal 2024 outlook.

Dollar Tree ( DLTR ) shares were down 1.8% after the company reported lower Q1 adjusted earnings and started a formal review of strategic alternatives for its Family Dollar business segment.