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Sector Update: Consumer Stocks Mixed Thursday Afternoon

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Consumer stocks were mixed Thursday 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) adding 0.3%.

In corporate news, Oxford Industries (OXM) shares dropped 19% after the clothing company provided a fiscal Q2 sales outlook below analyst estimates, while its results declined year over year in the prior three-month period.

McGraw Hill (MH) reported an annual drop in fiscal Q4 sales on Thursday amid weakness in the K-12 business. Its shares declined 3.8%.

Target (TGT) shareholders opposed a proposal to separate board oversight from executive leadership, allowing former Chief Executive Brian Cornell to remain executive chair, Reuters reported. Target shares rose 2.1%.

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Sector Update: Financial Stocks Softer Late Afternoon

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