01:58 PM EDT, 03/12/2024 (MT Newswires) -- Consumer stocks were higher Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.9%.

Redbook US same-store sales rose by 3% from a year earlier in the week ended March 9 after a 3.1% year-over-year increase in the previous week.

In corporate news, Kohl's (KSS) reported a bigger-than-expected decline in Q4 revenue on Tuesday while guiding flat sales at the midpoint and a decrease in per-share earnings for the ongoing year. Its shares dropped 5.4%.

On (ONON) tumbled nearly 15% as the company swung to a surprise Q4 loss and offered a downbeat sales outlook for the current three-month period.

Southwest Airlines ( LUV ) sank 14% after the carrier tempered its revenue expectations for Q1 and said that Boeing ( BA ) delivery challenges will impact its 2024 capacity.