Consumer Sector Update for 01/08/2024: DTC, NWL, HELE, NKE

Consumer stocks were rising late Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 1.7%.

In corporate news, Solo Brands (DTC) said it appointed Christopher Metz as its new chief executive, effective Jan. 15. Solo Brands sank 39%.

Newell Brands (NWL) shares gained 2% after the firm said that it would cut 7% of its office workforce and reduce its real estate footprint in an organizational realignment.

Helen of Troy's (HELE) fiscal Q3 revenue fell year over year while its earnings increased as the consumer products company narrowed its full-year guidance. Its shares jumped 4.8%.

Nike (NKE) and Tiger Woods are parting ways after a partnership that spanned 27 years. Nike shares were up 1.4%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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