Sector Update: Consumer Stocks Decline Late Afternoon

03:43 PM EDT, 10/28/2026 (MT Newswires) -- Consumer stocks were lower late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each down 0.4%. In corporate news, Wendy's (WEN) has received a $1.4 billion acquisition offer from a group led by Trian Fund Management, The Wall Street Journal reported. The Trian-led group has offered to pay $7.35 per share in cash, the report said. Wendy's shares surged past 15%. Dave & Buster's Entertainment (PLAY) has tapped Moelis (MC) to help tackle its $1.5 billion debt load, which consists of term loans and a revolving credit facility, Bloomberg reported. Separately, a group of Dave & Buster's creditors is working with PJT Partners (PJT) and Gibson Dunn & Crutcher, the report said. The creditors have concluded a cooperation agreement and are seeking additional signatures for wider support, according to the report. Dave & Buster's Entertainment shares were up 1.2%. Etsy's (ETSY) third-quarter revenue beat Wall Street estimates as gross merchandise sales rose and active buyers grew for the first time in two years. Its shares climbed 6.6%. Stellantis (STLA) reaffirmed its full-year revenue guidance after reporting stronger-than-expected top-line for Q3. Its shares gained nearly 13%.