Consumer stocks fell Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 2.9%.
In sector news, the Consumer Brands Association urged the White House to grant "targeted agricultural tariff exemptions" on some imports of key ingredients that are unavailable in the US. PepsiCo (PEP), Conagra (CAG), and J.M. Smucker (SJM) are among the members of the association.
In corporate news, Dollar General (DG) shares rose 3.8%. The company reported fiscal Q4 sales that topped estimates by analysts.
American Eagle Outfitters' (AEO) long-term growth trajectory remains intact despite providing weak sales outlooks, with the clothing retailer set to see an acceleration in revenue growth once macro headwinds diminish, UBS Securities said in a Thursday note. UBS reiterated its buy rating on American Eagle's stock and lowered the 12-month price target to $28 from $32. American Eagle shares were down 4.2%.
G-III Apparel (GIII) shares advanced past 4% after it reported higher fiscal Q4 non-GAAP net income and revenue.
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