03:49 PM EDT, 05/21/2024 (MT Newswires) -- Consumer stocks rose late Tuesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) adding 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) advancing 0.4%.

In economic news, Redbook US same-store sales in the week ended May 18 rose 5.5% from a year earlier after a 6.3% increase in the previous week.

In corporate news, Walt Disney's ( DIS ) Pixar Animation Studios is laying off 175 employees, or 14% of its workforce, according to media reports. Disney ( DIS ) shares eased 0.1%.

Borealis Foods (BRLS) shares soared 65% after the company's Q1 net loss narrowed.

The Children's Place (PLCE) said Chief Executive Officer Jane Elfers stepped down, and board member Muhammad Umair was named interim CEO. The stock tumbled 18%.

VinFast (VFS) shares slumped 19%. The company is facing charges in California's Superior Court for not paying rent for a store in Palo Alto, Reuters reported, citing a complaint filed by real estate services firm SPG Center.