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Sector Update: Consumer Stocks Rise Late Afternoon

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Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.9%.

In corporate news, Target (TGT) lifted its full-year outlook on Wednesday as tariff refunds helped double the retailer's fiscal Q2 earnings year over year. Its shares gained 5%.

Estee Lauder (EL) shares rallied 18% after the cosmetics maker bumped up its fiscal 2027 operating margin outlook and set sales guidance in line with its preliminary views.

TJX (TJX) issued a fiscal Q3 comparable store sales forecast that fell short of market expectations on Wednesday, but raised its full-year earnings outlook. TJX shares fell 4%.

Lululemon Athletica's (LULU) Chief Communications Officer Bill Chandler is leaving the company, Bloomberg reported, citing an internal memo. Chandler's last day at the company will be Sept. 4, according to the report. Lululemon shares were up 1%.

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