03:41 PM EDT, 03/21/2025 (MT Newswires) -- Consumer stocks were edging lower late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each easing 0.2%.

In corporate news, Stellantis ( STLA ) shares were shedding nearly 1% after it said Friday it's offering voluntary buyout packages to some factory workers in the US amid an effort to boost efficiency.

Target ( TGT ) trimmed its salaried employee bonuses after sales and profit slumped amid weak consumer spending, Bloomberg reported. Target ( TGT ) shares were rising 0.5%.

Nike ( NKE ) shares fell 5.7% as the sportswear giant flagged revenue and gross margin declines in fiscal Q4 amid tariff impacts and company-wide transformation efforts, while reporting better-than-expected results in Q3.

FedEx ( FDX ) shares dropped past 6%, a day after the company cut its fiscal 2025 outlook on adjusted earnings and revenue growth. Loop downgraded the stock to sell from hold and lowered its price target to $221 from $283.