Sector Update: Consumer Stocks Fall in Afternoon Trading

01:35 PM EST, 11/03/2026 (MT Newswires) -- Consumer stocks declined Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1%. In sector news, Redbook US same-store sales increased by 10.4% from a year earlier in the week ended Oct. 31 after a 9.3% year-over-year increase in the previous week. Redbook noted that sales during the week were driven by Halloween-related merchandise. Retailers expect shopping activity to pick up after Election Day due to holiday purchases. In corporate news, Shopify's (SHOP) Q3 adjusted earnings rose, though revenue and gross merchandise volume fell short of Wall Street's expectations. Shares fell 5%. Yum! Brands' (YUM) Q3 profit beat Wall Street expectations, driven by stronger KFC sales that helped offset pressure on Taco Bell amid a US food safety issue. Shares were steady. Walt Disney (DIS) is moving toward thousands of job cuts as it asks some managers to target 20% in annual cost savings, Bloomberg reported. Disney shares rose 0.6%.