Consumer stocks were edging higher pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.6%.

Lululemon athletica (LULU) stock was up more than 3% after the company said it has settled its dispute with its founder, Chip Wilson.