03:54 PM EDT, 03/20/2026 (MT Newswires) -- Consumer stocks fell late Friday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) slumping 2.1%.

In corporate news, McCormick ( MKC ) is holding talks on a potential acquisition of Unilever's ( UL ) food business. The discussions are ongoing, and there is no certainty that a deal will be reached, McCormick ( MKC ) said. McCormick ( MKC ) shares declined 1.6%, and Unilever ( UL ) eased 0.1%.

XPeng ( XPEV ) issued a downbeat Q1 revenue outlook after the Chinese electric vehicle manufacturer's sales topped expectations in Q4. The shares tumbled 8.8%.

Target (TGT) is planning to change its dress code for store employees, requiring them to wear plain red shirts with blue jeans or khakis. The shares fell 1.2%.

FedEx ( FDX ) reported a surprise increase in fiscal Q3 earnings on Thursday as gains in domestic package volume helped lift revenue above Wall Street's estimates. The shares rose 0.5%.