Consumer stocks were trending higher in Friday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) gaining 0.2%, paring most of its morning slide, while the SPDR Consumer Discretionary Select Sector ETF (XLY) was rising 0.7%.
In company news, Columbia Sportswear (COLM) rose 2.1% after Seaport Global Friday raised its investment call for the company to buy from neutral and setting a $120 price target.
Olaplex (OLPX) rose 2.3% after Arcaea said Olaplex made an unspecified investment in the cosmetics startup late last year as part of a new partnership working to develop new haircare products.
VF (VFC) tumbled 5.5% after the branded apparel company cut its FY22 revenue outlook, now expecting around $11.85 billion in sales for the 12 months through December, down from its prior forecast looking for $12 billion in sales this year. The Street is at $11.95 billion, according to Capital IQ.
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