GICS · 2023-03-17 Reshuffle — March 2023 GICS Reclassification: Target, Dollar General and Dollar Tree Move to Staples
2023 Consumer GICS Reclassification — Target, Dollar General and Dollar Tree moved from Consumer Discretionary to Consumer Staples on 2023-03-17.
The same S&P and MSCI reshuffle that moved the payment networks into Financials also moved the general-merchandise discounters from Consumer Discretionary to Consumer Staples. The line between the two consumer sectors is drawn by a committee, and this is the day it last moved.
What this page answers
Effective after the close on 2023-03-17, the revised GICS structure moved three broadline discounters — Target, Dollar General and Dollar Tree — from Consumer Discretionary into Consumer Staples. The same revision renamed group 3010 from Food & Staples Retailing to Consumer Staples Distribution & Retail, and group 2550 from Retailing to Consumer Discretionary Distribution & Retail. The renaming is what made the move possible: the test shifted from what kind of store it is to what is mostly on its shelves. The payment networks moved into Financial Services the same day — the two cards describe one restructuring.
The same S&P and MSCI reshuffle that moved the payment networks into Financials also moved the general-merchandise discounters from Consumer Discretionary to Consumer Staples. The line between the two consumer sectors is drawn by a committee, and this is the day it last moved. The data is refreshed by the History of Market pipeline and published as a stable JSON endpoint for research, citation, and AI-agent use.
The plate
Latest Snapshot
- Updated
- 2026-09-06
Effective 2023-03-17 — 3 companies carried from Consumer Discretionary into Consumer Staples
| Ticker | Company | From | To |
|---|---|---|---|
| TGT | Target | Consumer Discretionary | Consumer Staples |
| DG | Dollar General | Consumer Discretionary | Consumer Staples |
| DLTR | Dollar Tree | Consumer Discretionary | Consumer Staples |
Complete record (3 rows). Raw dataset: https://historyofmarket.com/api/consumer/reclass-2023.json
Data & Source
GET /api/consumer/reclass-2023.json — Canonical dataset endpoint.
Exchange closing prices · Company filings · Robert Shiller · FRED · NBER.
FAQ
What changed for the consumer sectors in the 2023 GICS revision?
The line moves, and that is the thing to carry away: any long sector series spanning 2023-03-17 contains a definitional seam. We neither splice the two regimes nor restate the history — the XLY and XLP curves show each period on the definition in force at the time, and this card is the note on the seam. The three names were a single-digit share of XLY's weight on the way out, but they widened the retail side of Staples from supermarkets and warehouse clubs to supermarkets, warehouse clubs and broadline discounters.
Where does this data come from?
History of Market combines public market and macro datasets — exchange closing prices, company filings, Robert Shiller, FRED, NBER, and the UBS Global Investment Returns Yearbook (Dimson–Marsh–Staunton). The exact endpoint for this panel is linked below.
How often is it updated?
Daily-tier datasets refresh after the U.S. market close, with a broader weekly refresh on Sunday. The timestamp shown on this page comes from the JSON payload.
Can I use the data?
Yes, for research and education with attribution to History of Market. Upstream data sources retain their own terms.