01:52 PM EDT, 09/04/2024 (MT Newswires) -- Consumer stocks were mixed Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) easing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.2%.

Redbook US same-store sales rose by 6.3% from a year earlier in the week ended Aug. 31 after a 5% year-over-year increase in the previous week.

In corporate news, Dollar Tree ( DLTR ) shares plunged about 23% after its fiscal Q2 adjusted earnings unexpectedly slid year over year while sales missed estimates amid macro pressures on consumers.

Hormel Foods ( HRL ) narrowed its earnings outlook and lowered its sales guidance for fiscal 2024, as its Q3 results declined year over year. Its shares tumbled nearly 7%.

A group comprising Nordstrom ( JWN ) family members and Mexican retailer El Puerto de Liverpool delivered a non-binding letter to Nordstrom ( JWN ) offering to buy the company and take it private for $23 per share in cash, according to a regulatory filing. Nordstrom ( JWN ) shares were fractionally higher.