Sector Update: Consumer Stocks Softer Late Afternoon

03:52 PM EDT, 08/26/2026 (MT Newswires) -- Consumer stocks were lower late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.6%. In corporate news, Nike (NKE) shares fell 2.2% after Truist downgraded the company to hold from buy while cutting its price target to $42 from $47. Bath & Body Works (BBWI) shares jumped past 7% after it raised its full-year earnings outlook following a fiscal Q2 beat amid tariff refund tailwinds. Abercrombie & Fitch (ANF) raised its full-year outlook on Wednesday as tariff-related refund benefits helped the apparel retailer post fiscal Q2 results above Wall Street's estimates. Abercrombie shares surged 38%. J.M. Smucker (SJM) lifted its full-year outlook on Wednesday as the food producer reported stronger-than-expected fiscal Q1 results, with earnings getting a boost from tariff refunds. Its shares gained 5.6%. Kraft Heinz (KHC) said Wednesday that it will transfer the listing of its stock to the New York Stock Exchange. The company said the shares are expected to begin trading on the NYSE on Sept. 14 under its existing ticker symbol KHC. Kraft Heinz shares were down 1.9%.