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BUZZ-Abercrombie & Fitch rallies among US apparel; cosmetics retailers face heat in 2024

ReutersDec 31, 2024 3:25 PM

** Apparel retailers Abercrombie & Fitch ANF.N, Gap GAP.N and VF Corp VFC.N outpaced rivals in a year marked by frugal and picky consumers motivated by trendy and discounted products

** Popularity of Hollister and namesake Abercrombie brand boosted ANF stock by 75% this year, after a nearly three-fold rise last year

** In contrast, Aerie parent American Eagle Outfitters AEO.N and high-end retailer Lululemon Athletica LULU.O reversed gains made in 2023 to fall more than 20% each this year

** Sportswear giant Nike NKE.N, with new CEO Elliott Hill at helm and turnaround efforts underway, continued to slump for a third straight year

** On Holding ONON.N and Hoka parent Deckers Outdoor DECK.O gained market share at Nike's expense, with ONON shares up more than two-fold

** Uncertain China recovery and soft sales of beauty and cosmetics products in U.S. hit luxury retailers Estee Lauder EL.N and CoverGirl parent Coty COTY.N

** Demand for pricey cashmere sweaters benefitted Ralph Lauren RL.N shares for a second year in row, up 61%, while Coach parent Tapestry TPR.N gained ~79% as it terminated a merger deal with Capri CPRI.N

** Department store operators Macy's M.N and Kohl's KSS.N struggled as middle-income shoppers pivoted to cheaper options; M slumps for third year in row, while KSS fell 51%

** Nordstrom JWN.N, which agreed to a $4 bln take-private deal from its founding family, was up 30%

** Broader S&P Composite 1500 Apparel Retail Index .SPCOMRETA up ~25% YTD, while S&P Composite 1500 Apparel, Accessories & Luxury Goods .SPCOMTEXT down 6%, up to last close

Apparel, footwear companies

Company

RIC

2024 YTD

2023

2022

Abercrombie & Fitch Co

ANF.N

75.30%

285%

-34.20%

Gap Inc

GAP.N

12.60%

85.40%

-36.09%

Levi Strauss & Co

LEVI.N

4.84%

6.60%

-38%

VF Corp

VFC.N

13.88%

-31.90%

-62.30%

Lululemon Athletica Inc

LULU.O

-24.90%

59.60%

-18.20%

American Eagle Outfitters

AEO.N

-22.50%

51.60%

-44.87%

Guess Inc

GES.N

-34.55%

11.45%

-12.60%

Under Armour

UAA.N

-6.60%

-13.50%

-52.05%

G-III Apparel Group Ltd

GIII.O

-4.40%

147.85%

-50.40%

Nike Inc

NKE.N

-31.20%

-7.20%

-29.80%

On Holding

ONON.N

104.60%

57.20%

-54.60%

Deckers Outdoor

DECK.O

84.70%

67.50%

8.97%

Macy's

M.N

-15.8%

-2.57%

-21.12%

Kohl's

KSS.N

-51.2%

13.58%

-48.88%

Nordstrom

JWN.N

31.1%

14.3%

-28.65%

Luxury and beauty companies

Company

RIC

2024 YTD

2023

2022

Tapestry

TPR.N

79.30%

-3.34%

-6.21%

Ralph Lauren

RL.N

63.30%

36.46%

-11.10%

Coty Inc

COTY.N

-43.96%

45.09%

-18.48%

Estee Lauder

EL.N

-49.12%

-41.05%

-32.98%

Ulta Beauty

ULTA.O

-10.40%

4.46%

13.76%

Canada Goose

GOOS.TO

-9.72%

-34.63%

-48.60%

Capri

CPRI.N

-58.90%

-12.35%

-11.69%

(Reporting by Savyata Mishra in Bengaluru)

((Savyata.Mishra@thomsonreuters.com))

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