03:27 PM EDT, 06/25/2024 (MT Newswires) -- Consumer stocks were slipping late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.8% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.3%.

Redbook US same-store sales rose by 5.3% from a year earlier in the week ended June 22 after a 5.9% year-over-year increase in the previous week. Redbook noted the soft performance of discount and department stores following Father's Day, with customers focused more on purchasing household basics and consumables compared with summer apparel and other soft goods.

In corporate news, Pool (POOL) shares tumbled 8% after it slashed its full-year earnings outlook and said it expects declining sales to impact Q2 results as it sees "persistently weak demand" and sluggish consumer spending.