Sector Update: Consumer

Last Updated: Friday, May 20, 2022 3:46 PM | MT Newswires

Consumer stocks were broadly mixed late in Friday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 0.2% and the SPDR Consumer Discretionary Select Sector ETF (XLY) retreating 2.1%. In company news, RLX Technology (RLX) was sinking 9.6% late in Friday trading, reversing an early 4.5% gain for the e-vapor products company, after it reported non-GAAP Q1 net income of 0.28 renminbi ($0.04) per American depositary share, down from 0.40 renminbi per ADS during the same quarter last year, while revenue dropped almost 29% to 1.71 billion renminbi ($270.4 million). Analyst estimates were not available.

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