BUZZ-Weak consumer spending hammers P&G, other packaged goods stocks
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Weak consumer spending has negatively impacted Procter & Gamble (P&G) and other packaged goods stocks, with P&G facing its largest annual drop since 2008. The S&P 500 Consumer Staples index rose 1.88% YTD, lagging behind the S&P 500's 17.3% increase. Companies are offloading underperforming brands and adjusting product sizes to meet consumer needs. Tariffs and a government shutdown have hurt margins and demand. Kimberly-Clark and Colgate-Palmolive also reported significant declines, with KMB down 22% and CL down nearly 13% YTD.
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