---
title: "Sector Update: Consumer Stocks Softer Late Afternoon"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286608674.md"
description: "Consumer stocks declined late Friday, with the State Street Consumer Staples ETF down 0.3% and the Consumer Discretionary ETF falling 1.7%. Canada Goose shares dropped 2.8% amid weak revenue growth. Starbucks announced a cut of 300 US jobs, with shares up 0.7%. Magnum Ice Cream shares surged over 10% as Blackstone and Clayton, Dubilier & Rice consider bids. Disney's JioStar is suing Zee Entertainment, leading to a 2.5% drop in Disney shares."
datetime: "2026-05-15T19:53:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286608674.md)
  - [en](https://longbridge.com/en/news/286608674.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286608674.md)
---

# Sector Update: Consumer Stocks Softer Late Afternoon

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%.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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