01:46 PM EST, 12/06/2024 (MT Newswires) -- Consumer stocks were advancing Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing marginally and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 1.4%.

In corporate news, Lululemon Athletica's ( LULU ) shares jumped past 17% after the company reported late Thursday higher fiscal Q3 earnings and revenue and raised its guidance for fiscal 2024.

Ulta Beauty ( ULTA ) shares popped 10% after the company reported higher fiscal Q3 earnings per share and net sales while raising its full-year EPS guidance.

AMC Entertainment ( AMC ) said Friday in a regulatory filing it has entered a forward sales and registration agreement with Goldman Sachs (GS) to issue and sell up to 50 million shares of class A common stock. AMC shares tumbled past 9%.