01:50 PM EST, 03/04/2025 (MT Newswires) -- Consumer stocks were falling Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 1.3%.

Redbook US same-store sales accelerated by 6.6% from a year earlier in the week ended March 1 after a 6.2% year-over-year increase in the previous week.

In corporate news, Best Buy ( BBY ) flagged potential price increases amid tariff uncertainties and issued a full-year earnings outlook that fell short of Wall Street estimates at the midpoint. Its shares tumbled past 12%.

Target ( TGT ) reported better-than-expected fiscal Q4 results on Tuesday, but the retailer said it expects uncertainties related to consumer spending and tariffs to weigh on its profit in the ongoing three-month period. Its shares fell 3.4%.

Starbucks ( SBUX ) said Tuesday that department store chain Nordstrom's ( JWN ) Chief Financial Officer Cathy Smith will join the coffee giant as its finance chief next month. Starbucks ( SBUX ) shares were down 1.3%.