Consumer stocks were edging down late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each decreasing 0.1%.

In corporate news, Tapestry (TPR) raised its fiscal 2026 outlook after delivering a Q3 beat, but provided a subdued Q4 sales guidance for its Kate Spade brand. Its shares dropped more than 13%.

Shake Shack (SHAK) shares slumped 28% after the company's Q1 results missed Wall Street estimates.

Planet Fitness (PLNT) shares tumbled 32% after the company tempered its full-year outlook amid fewer-than-expected member additions in Q1.

McDonald's (MCD) reported better-than-expected Q1 results as comparable sales rebounded more than market estimates despite what the company described as a "challenging" environment. Its shares rose 0.3%.