01:42 PM EDT, 08/11/2026 (MT Newswires) -- Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.

Redbook US same-store sales rose by 8.3% from a year earlier in the week ended Aug. 8 after an 8.7% year-over-year increase in the previous week. Sales were lifted by back-to-school sales, particularly in multiple states that were holding sales tax holidays, Redbook said.

In corporate news, On (ONON) tempered its full-year constant-currency sales growth outlook as the Swiss sneaker maker's Q2 revenue fell short of market estimates. Its shares fell past 20%.

Tencent Music Entertainment's ( TME ) shares tumbled past 11% after the company's Q2 revenue grew at a slower pace sequentially, though the results topped Wall Street's estimates.

Lionsgate Studios ( LION ) is being urged by activist investor Anson Funds to either redefine itself for "the AI era" or put itself up for sale, Semafor reported, citing a July letter to Lionsgate's board that it reviewed. Lionsgate shares fell 2.9%.