03:48 PM EDT, 03/21/2024 (MT Newswires) -- Consumer stocks were higher late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.7%.

In corporate news, Five Below ( FIVE ) shares sank more than 15% as several brokerages cut their price targets after the company's Q4 results lagged estimates.

Nike ( NKE ) will supply kit for Germany's national teams and support German football in its entirety from 2027 to 2034 following a kit partnership deal, the German football association DFB, said Thursday. Nike ( NKE ) shares gained 0.8%.

Academy Sports & Outdoors (ASO) issued a downbeat full-year outlook as the sporting goods retailer logged lower-than-expected fiscal Q4 results. Its shares fell 9%.

Guess? (GES) shares surged more than 21% following its better-than-expected Q4 performance and a special dividend payout.