01:41 PM EDT, 09/03/2025 (MT Newswires) -- Consumer stocks were mixed Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.7%.

In sector news, US consumers are looking to scale back holiday purchases this year due to higher prices, with Gen Z shoppers leading the planned pullback, PwC said in a report published on Wednesday. Holiday spending is expected to decline by 5% annually to $1,552 on average, according to the consulting firm's 2025 holiday outlook survey. That's "the first noteworthy dip" since the pandemic began in 2020, PwC said.

In corporate news, Dollar Tree ( DLTR ) reported better-than-expected fiscal Q2 results and lifted its full-year outlook, but the discount retailer provided an earnings outlook below market estimates for the Q3 period. Its shares fell nearly 8%.

Macy's (M) raised its full-year outlook on Wednesday as the department store operator reported fiscal Q2 results above market expectations. Macy's shares jumped more than 17%.

Unilever ( UL ) Chief Executive Fernando Fernandez plans to replace a quarter of the company's top 200 managers following a performance review as part of a broad restructuring of the consumer goods group, Bloomberg reported, citing the CEO at a conference. Unilever ( UL ) shares added 0.8%.