03:57 PM EDT, 06/11/2024 (MT Newswires) -- Consumer stocks fell late Tuesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.5%.

Redbook US same-store sales last week rose 5.5% from a year earlier after a 5.8% increase in the previous week.

In corporate news, General Motors ( GM ) expects its 2024 electric vehicle production to be 200,000 to 250,000 units, down from 200,000 to 300,000 previously, Chief Financial Officer Paul Jacobson said at the Deutsche Bank global auto Industry conference. GM shares added 1.4%.

Alaska Air ( ALK ) lost a court appeal in London seeking to overturn a trademark decision last year on paying $160 million in royalties to Virgin Group, even though the US airline no longer uses the Virgin brand. Alaska Air ( ALK ) shares slumped 2.7%.

Academy Sports & Outdoors' (ASO) fiscal Q1 adjusted earnings fell more than analysts expected, and the shares tumbled 3.6%. The retailer lifted its full-year profit outlook, reflecting its stock repurchase activity in the previous three-month period.

Warner Bros. Discovery's ( WBD ) TNT Sports signed a 10-year agreement with the French Tennis Federation to broadcast the French Open in the US exclusively starting in 2025. Warner Bros. Discovery ( WBD ) shares fell 1.1%.