02:00 PM EST, 03/06/2024 (MT Newswires) -- Consumer stocks were mixed Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.3%.

In corporate news, Nordstrom ( JWN ) shares sank nearly 17% as the retailer said consumers were still cautious about making some purchases and warned that revenue could decline this year even after topping analysts' expectations in Q4 amid gains for its Rack off-price chain.

Foot Locker ( FL ) shares plunged past 32%. The company pushed back its long-term core profitability target and said it won't restart dividend payments even as fiscal Q4 results came in ahead of expectations, while the retailer laid out a full-year earnings target that trailed Wall Street's view.

Brown-Forman (BF.A, BF.B) lowered its full-year sales growth outlook on Wednesday after sales unexpectedly declined in fiscal Q3 in what the company referred to as an ongoing post-pandemic normalization of alcohol-consumption trends. Its shares tumbled nearly 10%.