Consumer stocks were advancing premarket Thursday, with the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.3% and the Consumer Staples Select Sector SPDR Fund (XLP) 0.1% higher.

Alibaba Group (BABA) shares were up 3.1% after the company said it priced a $3.2 billion offering of zero coupon convertible senior notes due 2032.

Kroger (KR) stock was up more than 1% after the company reported higher fiscal Q2 adjusted earnings and sales, and raised the lower end of its fiscal 2025 adjusted EPS guidance.

Chipotle Mexican Grill (CMG) shares were 0.5% higher after the company said it signed a joint venture with South Korean food company SPC Group, with a view to opening the first Chipotle restaurants in South Korea and Singapore in 2026.