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Sector Update: Consumer Stocks Fall in Afternoon Trading

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Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.

In corporate news, AutoZone (AZO) reported mixed fiscal Q3 results with earnings topping estimates and revenue falling short. Its shares tumbled past 9%.

Starbucks' (SBUX) Korean unit has suffered a "very significant" drop in sales following a controversial marketing campaign, Reuters and other media outlets reported. Starbucks shares fell 1.9%.

Dollar Tree (DLTR) may face a modest earnings reset as recent grocery price increases appear to be getting rolled back, while weak shopper response and softer store-level trends may weigh on results, Oppenheimer said in a note Tuesday. Dollar Tree shares were down 2.8%.

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$GCN6$GLD
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$GCN6$GLD