** Apparel retailers Abercrombie & Fitch , Gap
and VF Corp 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
and high-end retailer Lululemon Athletica reversed gains made in 2023 to fall more than 20% each this year
** Sportswear giant Nike , with new CEO Elliott Hill at helm and turnaround efforts underway, continued to slump for a third straight year
** On Holding and Hoka parent Deckers Outdoor
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
and CoverGirl parent Coty
** Demand for pricey cashmere sweaters benefitted Ralph Lauren shares for a second year in row, up 61%, while Coach parent Tapestry gained ~79% as it terminated a merger deal with Capri
** Department store operators Macy's and Kohl's
struggled as middle-income shoppers pivoted to cheaper options; M slumps for third year in row, while KSS fell 51%
** Nordstrom , which agreed to a $4 bln take-private deal from its founding family, was up 30%
** Broader S&P Composite 1500 Apparel Retail Index
up ~25% YTD, while S&P Composite 1500 Apparel, Accessories & Luxury Goods down 6%, up to last close
Apparel, footwear companies
Company RIC 2024 2023 2022
YTD
Abercrombie & ANF.N 75.30 285% -34.2
Fitch Co % 0%
Gap Inc GAP.N 12.60 85.40 -36.0
% % 9%
Levi Strauss & LEVI. 4.84% 6.60% -38%
Co N
VF Corp VFC.N 13.88 -31.9 -62.3
% 0% 0%
Lululemon LULU. -24.9 59.60 -18.2
Athletica Inc O 0% % 0%
American Eagle AEO.N -22.5 51.60 -44.8
Outfitters 0% % 7%
Guess Inc GES.N -34.5 11.45 -12.6
5% % 0%
Under Armour UAA.N -6.60 -13.5 -52.0
% 0% 5%
G-III Apparel GIII. -4.40 147.8 -50.4
Group Ltd O % 5% 0%
Nike Inc NKE.N -31.2 -7.20 -29.8
0% % 0%
On Holding ONON. 104.6 57.20 -54.6
N 0% % 0%
Deckers DECK. 84.70 67.50 8.97%
Outdoor O % %
Macy's M.N -15.8 -2.57 -21.1
% % 2%
Kohl's KSS.N -51.2 13.58 -48.8
% % 8%
Nordstrom JWN.N 31.1% 14.3% -28.6
5%
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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