Consumer stocks were higher late Monday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.8% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.3%.
In company news, shares of Brilliant Earth Group (BRLT) rose 16% after it said Monday that its board has approved a buyback program for up to $20 million of the company’s Class A common shares through December 8, 2026.
Shares of Macy’s (M) rose 20% after it received a $5.8 billion buyout offer from an investor group consisting of Arkhouse Management and Brigade Capital Management, according to multiple media reports Sunday. The offering price is reportedly $21 per share.
Shake Shack ( SHAK ) said Monday that CEO Randy Garutti will retire in 2024, as the restaurant chain reiterated its guidance for the full year and current quarter. Shares rose 9.3%.
Xponential Fitness (XPOF) fell nearly 15% after indicating in a regulatory filing that the U.S. Securities and Exchange Commission had contacted the company requesting certain documents.
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