03:56 PM EDT, 05/29/2024 (MT Newswires) -- Consumer stocks were decreasing late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.4%.

In economic news, Redbook US same-store sales increased by 6.3% from a year earlier in the week ended May 25 after a 5.5% year-over-year increase in the previous week.

In corporate news, Advance Auto Parts ( AAP ) on Wednesday posted a surprise decline in its fiscal Q1 comparable-store sales amid weather and macro headwinds. Its shares tumbled past 10%.

Former US President Donald Trump is considering Tesla (TSLA) Chief Executive Elon Musk for an advisory role if the presumptive Republican nominee returns to the White House, the Wall Street Journal reported Wednesday. Tesla shares were up fractionally.

Titan Machinery ( TITN ) shares added 3.3% after Chief Financial Officer Robert Larsen disclosed a recent stock purchase.

Abercrombie & Fitch ( ANF ) shared soared almost 23% after the company raised its fiscal 2024 revenue and margin guidance following stronger-than-expected top- and bottom-line gains in Q1.