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Sector Update: Consumer

05/11/2021 04:39

08:37 AM EDT, 05/11/2021 (MT Newswires) -- Consumer stocks were declining ahead of Tuesday's opening bell as the Consumer Staples Select Sector SPDR Fund (XLP) was down 0.17% while the Consumer Discretionary Select Sector SPDR Fund (XLY) was recently 2.26% lower.

In company news, Hanesbrands (HBI) was down more than 11% despite reporting Q1 adjusted earnings of $0.39 per diluted share and revenue of $1.51 billion in Q1, up from adjusted earnings of $0.07 per share and revenue of $1.20 billion a year ago.