09:10 AM EDT, 04/10/2024 (MT Newswires) -- Consumer stocks were declining pre-bell Wednesday with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.4% and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) 1.7% lower recently.

PriceSmart ( PSMT ) was more than 3% higher after it reported an increase in fiscal Q2 earnings and sales, and declared a one-time special dividend.

Alibaba ( BABA ) co-founder Jack Ma lauded the company's ongoing restructuring efforts in a memo to employees, a rare move after being away from the spotlight for the last few years, media reports said. Alibaba ( BABA ) was up nearly 2% pre-bell.

Procter & Gamble ( PG ) raised its quarterly dividend to $1.0065 per share, payable on or after May 15 to shareholders on record as of April 19. Procter & Gamble ( PG ) was down 0.3% pre-bell.