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Sector Update: Consumer Stocks Mixed in Late Afternoon Trading
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Sector Update: Consumer Stocks Mixed in Late Afternoon Trading
Jul 9, 2024 1:19 PM

03:55 PM EDT, 07/09/2024 (MT Newswires) -- Consumer stocks were mixed late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.5%.

Redbook US same-store sales last week rose 6.3% from a year earlier following a 5.8% increase in the previous week.

In corporate news, Expedia ( EXPE ) shares rose 2.9% after Wells Fargo increased its price target on the travel reservations company's stock to $140 from $137.

Kroger ( KR ) released the list of stores, distribution centers and plants it intends to sell to C&S Wholesale Grocers to get regulatory approval for its planned merger with Albertsons ( ACI ) , Bloomberg reported, citing Kroger ( KR ) Chief Executive Rodney McMullen's memo to employees. Kroger ( KR ) shares were rising 0.2%, and Albertsons ( ACI ) was shedding 0.7%.

Helen of Troy (HELE) reduced its full-year outlook as the company recorded lower-than-expected fiscal Q1 results amid weak consumer demand. Its shares tumbled 28%.

Hilton (HLT) shares added 0.7%. The firm said it's collaborating with Small Luxury Hotels of the World to expand its luxury hotel services with an additional 400 properties.

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