Consumer stocks were mixed Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.3% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.5%.

In sector news, President Donald Trump said he's recommending a "straight" 50% tariff on the EU, effective June 1, because the bloc has been "very difficult to deal with."

In corporate news, Deckers Outdoor's (DECK) strong fiscal Q4 results were overshadowed by sales growth deceleration at its Hoka sneaker brand and potential demand weakness from price increases, prompting KeyBanc Capital Markets to downgrade the stock. Deckers' shares tumbled past 19%.

Ross Stores (ROST) overnight warned that elevated tariffs could pressure profitability, noting that over half its merchandise originates from China despite limited direct imports. Citing ongoing macroeconomic uncertainty and shifting trade policies, the company withdrew its full-year sales and earnings guidance. Its shares dropped 11%.

MINISO (MNSO) shares fell nearly 19% after the company reported a year-over-year decline in Q1 adjusted earnings.