03:44 PM EDT, 04/02/2024 (MT Newswires) -- Consumer stocks were retreating late Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 1.6%.

Redbook US same-store sales rose by 5.2% from a year earlier in the week ended March 30 after a 3.9% year-over-year increase in the previous week.

In corporate news, Hanesbrands ( HBI ) agreed to sell athletic apparel brand Champion to Authentic Brands for slightly over $1 billion, Women's Wear Daily reported Tuesday. Hanesbrands ( HBI ) shares were falling 12%.

Petco Health & Wellness (WOOF) dropped 7.2% as BofA Securities downgraded the company's stock to underperform from buy and cut its price target to $1.50 from $5.

Endeavor (EDR) said that it has agreed to be acquired by private-equity firm Silver Lake for an equity value of $13 billion. Silver Lake said it believes that when consolidating Endeavor with its TKO Group ( TKO ) , it will have a combined total enterprise value of $25 billion. Endeavor shares rose 2.3% and TKO jumped 5.2%.

PVH (PVH) shares plunged 22% after the company forecast a drop in Q1 and full-year 2024 sales.