03:53 PM EDT, 05/15/2026 (MT Newswires) -- Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.7%.

In corporate news, Canada Goose (GOOS) may struggle to generate meaningful upside in the coming quarters as weak revenue growth and macro uncertainty continue to cloud the outlook, UBS said in a note. Canada Goose shares were down 2.8%.

Starbucks ( SBUX ) said it will cut 300 US support jobs as the coffee giant consolidates regional offices to reduce costs and streamline operations. Its shares were up 0.7%.

Magnum Ice Cream ( MICC ) shares jumped past 10% after Reuters reported that Blackstone (BX) and Clayton, Dubilier & Rice are in the early stages of considering bids for the company.

Walt Disney's ( DIS ) co-owned JioStar, an Indian entertainment joint venture with Reliance, is suing rival Zee Entertainment over allegations it broadcast Bollywood films that JioStar has rights to without authorization, Reuters reported. Disney ( DIS ) shares were down 2.5%.