Sector Update: Consumer Stocks Mixed in Late Afternoon Trading

MT Newswires Live
03-07

Consumer stocks were mixed late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 2.7%.

In corporate news, Cracker Barrel Old Country Store (CBRL) shares jumped past 7% following its better-than-expected fiscal Q2 results.

BJ's Wholesale Club's (BJ) shares surged past 11% after its Q4 results topped analysts' expectations and the warehouse club operator said its "cautiously optimistic" amid the ongoing macro uncertainty.

Kroger's (KR) fiscal Q4 earnings came in ahead of market estimates but revenue missed forecasts. The supermarket chain issued a full-year bottom-line outlook below expectations. Its shares were rising 1.8%.

Burlington Stores (BURL) shares jumped nearly 10%. The off-price retailer reported higher-than-expected fiscal Q4 results and indicated that the ongoing economic uncertainty could benefit discount stores.

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