02:06 PM EDT, 03/18/2025 (MT Newswires) -- Consumer stocks were sliding Tuesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 1.5%.

Redbook US same-store sales rose by 5.2% from a year earlier in the week ended March 15, slower than the 5.7% year-over-year increase in the previous week.

In sector news, Costco (COST) and Walmart ( WMT ) are asking Chinese suppliers to lower their prices in response to US tariffs, the Financial Times reported. Other retailers have made similar requests, the FT cited the exporters as saying.

In corporate news, XPeng ( XPEV ) reported Q4 results below Wall Street estimates, while the Chinese automaker expects its vehicle deliveries to grow by over 300% year over year in the ongoing three-month period. Its shares dropped past 7%.

Tesla (TSLA) vehicles purchased to be used as taxis or ride shares will no longer receive financial incentives from the city of Toronto due to growing trade tensions with the US, Reuters reported late Monday, citing Mayor Olivia Chow. Tesla shares were down 4.7%.

Frontier Airlines, a unit of Frontier Group ( ULCC ) , is temporarily offering a free checked bag and other perks after competitor Southwest Airlines ( LUV ) last week scrapped its free baggage policy. Frontier shares were falling 3.7%, and Southwest ( LUV ) was adding 0.6%.

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