** 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))