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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