Sector Update: Consumer Stocks Mixed Thursday Afternoon
MT newswire2026/10/08 17:3201:32 PM EDT, 10/08/2026 (MT Newswires) -- Consumer stocks were mixed Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) adding 2.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.1%. In corporate news, PepsiCo (PEP) lowered its full-year earnings growth outlook amid projected margin pressures in its North American business, but its fiscal Q3 results topped market expectations. Its shares rose 2.2%. Levi Strauss (LEVI) shares fell past 3% after the firm reported fiscal Q3 sales below market estimates, driven by softer-than-expected trends in its direct-to-consumer channel. Starbucks (SBUX) has explored a takeover of Chipotle Mexican Grill (CMG) and has worked with advisers in recent months on a potential proposal, the Financial Times reported. The current status of Starbucks' plans and whether it has submitted a formal offer to Chipotle could not be determined, the report said. Starbucks shares were down 4.5%, while Chipotle jumped past 7%. Movado (MOV) shares were 1.2% lower after the company said it has agreed to sell a 95% stake in its EBEL luxury watch brand for $66.5 million to a group led by Montres Journe, with participation from Chanel and Pierre Jacques.
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