01:51 PM EDT, 04/02/2024 (MT Newswires) -- Consumer stocks were slipping Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.5% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 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, 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 popped 2.5% and TKO spiked 5%.

PVH (PVH) shares plunged 23% after the company forecast a drop in Q1 and full-year 2024 sales.

MYT Netherlands Parent's (MYTE) Mytheresa is among the potential bidders for Richemont's e-commerce business Yoox Net-a-Porter, The Financial Times reported. MYT shares were down 0.9%.