Sector Update: Consumer Stocks Softer in Afternoon Trading

01:57 PM EDT, 08/31/2026 (MT Newswires) -- Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.4%. In corporate news, Choice Hotels International (CHH) said Monday that Dominic Dragisich has been named president and chief executive officer. Dragisich has served as the company's interim CEO since May. Choice Hotels shares fell 5.1%. Herbalife (HLF) CEO Stephan Gratziani will step down, effective Oct. 31, the company said. The company said that it is reaffirming its guidance for Q3 and the full-year, previously provided on Aug. 5. It still expects Q3 net sales growth of 0.5% to 4.5% year-over-year along with adjusted earnings before interest, taxes, depreciation, and amortization of $160 million to $180 million. Herbalife shares were falling past 11%. GameStop (GME) shares rose past 3% after the company said it expects Q2 net income of $290 million to $310 million, up from $168.6 million a year earlier.