01:48 PM EDT, 04/03/2024 (MT Newswires) -- Consumer stocks were mixed Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.9% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.2%.

In corporate news, Ulta Beauty ( ULTA ) shares tumbled past 15% after the company said it expects Q1 comparable sales to be at the lower end of previous H1 guidance.

Signet Jewelers ( SIG ) increased its fiscal 2025 earnings guidance on Wednesday as it announced a deal with Leonard Green & Partners to buy back certain convertible preferred shares. Signet shares jumped nearly 10%.

Guess (GES) and brand management firm WHP Global said Wednesday they closed their acquisition of New York-based fashion brand Rag & Bone. Guess shares added 1%.