03:53 PM EDT, 04/03/2025 (MT Newswires) -- Consumer stocks were mixed late Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) rising 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 6.1%.

In sector news, President Donald Trump's auto tariffs will likely cost US car buyers about $30 billion in the first year, assuming carmakers will absorb some of the costs, Anderson Economic Group said in a report.

In corporate news, RH (RH) shares tumbled 40%, a day after the company reported fiscal Q4 adjusted earnings and sales that trailed estimates by analysts. The earnings woes may be exacerbated by the Trump administration's broad tariffs, Wedbush said.

Lamb Weston ( LW ) posted better-than-expected fiscal Q3 results on Thursday as volume gains helped offset lower prices, while the company reiterated its full-year outlook. Its shares jumped past 10%.

Stellantis ( STLA ) plans to lay off 900 workers temporarily at five US facilities following Trump's tariff announcement, according to media reports. The automaker is also temporarily pausing production at assembly plants in Mexico and Canada, the reports said. Stellantis ( STLA ) shares dropped 9.4%.

Nike ( NKE ) shares fell 13% after the US tariff announcement. Trump said he will impose tariffs of 32% to 49% on Vietnam, Cambodia, Bangladesh and Indonesia and a 54% tariff on China. Nike ( NKE ) sources a large portion of its products from those Asian countries.