Consumer stocks were higher Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%.

In sector news, Detroit's automakers plan to argue to the Trump administration that some proposals floated as part of an update to the US-Mexico-Canada Agreement could cost them billions of dollars and make them less competitive with foreign rivals, Reuters reported, citing two automakers' estimates. Among the most contentious proposals, is Washington's demand that, in order to qualify for a lower tariff, a vehicle must contain at least 50% US-made content, the report said.

In corporate news, Birkenstock (BIRK) shares jumped past 14% after its fiscal Q3 revenue rose year on year and beat analysts' estimates, and it updated its fiscal 2026 revenue growth guidance.

Tapestry (TPR) provided a full-year outlook below Wall Street's estimates at the midpoint on Thursday, while the Coach and Kate Spade parent reported stronger-than-expected fiscal Q4 earnings. Tapestry shares dropped 14%.

Yeti (YETI) lifted its full-year earnings outlook on Thursday following a surprise year-over-year increase in its fiscal Q2 bottom line, but the outdoor products company flagged weakness in its drinkware category in the US amid market pressure and competition. Its shares fell 11%.