Nu stiu de ce domnii admini nu au aprobat mesajul anterior cu rezolvarea, asa ca il mai pun o data:

Cod PHP:
<?php
$string 
'
<ul class="sizeSelect dropdown-menu" id="sUM1970">
                <li data-sku="UM1970/S" class="sizeSelectItem ">

                        <a onclick="setDropdownText(\'UM1970/S\', \'UM1970\'); "><span>Small Chest 35-37&quot;</span> <span class="stockStatusMessage"> </span></a>
                </li>
                <li data-sku="UM1970/M" class="sizeSelectItem ">

                        <a onclick="setDropdownText(\'UM1970/M\', \'UM1970\'); "><span>Medium Chest 38-40&quot;</span> <span class="stockStatusMessage"> Low Stock</span></a>
                </li>
                <li data-sku="UM1970/L" class="sizeSelectItem disabled">

L Sold Out                </li>
                <li data-sku="UM1970/XL" class="sizeSelectItem disabled">

XL Sold Out                </li>
        </ul>
'
;

preg_match_all("#<\s*?li\b[^>]*>(.*?)</li\b[^>]*>#s"$string$matches);

$stock = [];
foreach(
$matches[0] as $li){
    if(!
strstr($li'disabled')){
        
preg_match('/data-sku="(.*?)"/i'$li$sku);
                
preg_match('/"\>\<span\>(.*?) /i'$li$size);
        
$stock[] = ['sku'=>$sku[1], 'size'=>$size[1]];
    }
}
var_dump($stock);