US retailers rise after US, China agree to ease some tariffs, 90-day pause

Shares of retailers surge in premarket trading after U.S. and China agree to ease some tariffs and a 90-day pause

While a 30% tariff is still a significant hit to retailers’ margins, ... the tentative deal provides some breathing room as retailers gear up for back-to-school and holiday shopping - Zak Stambor, analyst with eMarketer

Shares of Nike NKE.N jump 6.7%, as of fiscal 2024, sportswear giant manufactured about 18% of its footwear and 16% of apparel brands in China

Shares of Lululemon LULU.N, which supplied 26% of fabrics from China during 2023, rise ~6%

Under Armour UAA.N up about 5% premarket

Sportswear retailer Foot Locker FL.N jumps 7.3%

Roger Federer-backed On Holding ONON.N up 6.2%, while Deckers Outdoor DECK.N shares jump 7%

Shares Abercrombie & Fitch ANF.N up ~8% and American Eagle Outfitters AEO.N rise 6%

Retail giant Walmart WMT.N up about 3%, while Target TGT.N soars ~4%

Beauty stocks including Elf Beauty ELF.N surge ~12%, while Ulta Beauty ULTA.O and Coty COTY.N up ~3%

Tapestry TPR.N up about 5%, while Estee Lauder EL.N and Capri Holdings CPRI.N up ~5%