Consumer stocks were mixed premarket Friday as the Consumer Staples Select Sector SPDR Fund (XLP) and Consumer Discretionary Select Sector SPDR Fund (XLY) were unchanged and up 0.2% recently, respectively.

Tapestry (TPR) shares advanced by over 3% after the company announced accelerated share repurchase deals with Bank of America and Morgan Stanley to buyback $2 billion of its common shares.

Cato (CATO) shares were down over 10% after the company announced that its board suspended its regular quarterly dividend "in light of the current economic conditions and current sales trends."

Buckle (BKE) shares were up over 3% even after the company reported lower fiscal Q3 net income and sales.