Consumer stocks were leaning lower premarket Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 1.4%.

Signet Jewelers (SIG) shares were down 0.9% after the company reported preliminary fiscal Q4 sales of $2.34 billion to $2.35 billion.

Lamb Weston (LW) is facing a challenge by activist investor Starboard Value, which has built a significant stake, The Wall Street Journal reported, citing people familiar with the matter. Lamb Weston stock was 0.1% lower premarket.