03:29 PM EDT, 09/02/2025 (MT Newswires) -- Consumer stocks dropped late Tuesday afternoon with the Consumer Staples Select Sector SPDR Fund (XLP) shedding 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) falling 0.9%.

In corporate news, Amazon.com's ( AMZN ) US Prime sign-ups fell short of last year's aggregate and the company's own targets, Reuters reported, citing internal data. Amazon ( AMZN ) shares fell 1.5%.

Kraft Heinz ( KHC ) said its board has approved a plan to split the company into two independent, publicly traded entities through a tax-free spinoff. The stock dropped past 7%.

Academy Sports and Outdoors' ( ASO ) fiscal Q2 earnings unexpectedly declined, while the sporting goods retailer lifted its full-year bottom-line outlook with plans to counter the planned impact of tariffs. Shares retreated more than 8%.

Constellation Brands ( STZ ) shares retreated 6.5% after the company lowered its fiscal 2026 comparable earnings outlook to a range of $11.30 to $11.60 per share from $12.60 to $12.90.

PepsiCo ( PEP ) shares rose 1.4% after Elliott Investment Management urged the company to revamp its North American beverages and snacks businesses in a move that the activist investor said would unlock additional shareholder value.