GOOS - Apparel and footwear stocks rally ahead of Nike's earnings report

2023-03-21 10:44:53 ET

Retail stocks rallied on Tuesday morning after Treasury Secretary Janet Yellen’s reassurances on the banking crisis brought buyers back into the sector. A strong earnings report from Foot Locker ( FL ) and wave of analyst upgrades on the stock also helped to lift sentiment with apparel and footwear stocks in particular.

Mall and e-commerce retailers broker higher, including Torrid Holdings ( CURV ) +12.56% , Lulu's Fashion Lounge Holings ( LVLU ) +10.82% , Zumiez ( ZUMZ ) +6.23% , Allbirds ( BIRD ) +6.09% , Stitch Fix ( SFIX ) +6.05% , Hibbett ( HIBB ) +5.55% , Crocs ( CROX ) +5.29% , Gap ( GPS ) +4.85% , Deckers Outdoor ( DECK ) +4.82% , Shoe Carnival ( SCVL ) +4.78% , Nordstrom ( JWN ) +4.75% , Boot Barn ( BOOT ) +4.39% , Abercrombie & Fitch ( ANF ) +4.15% , and Kohl's ( KSS ) +4.04% .

Apparel manufacturers were also in positive territory, led by Delta Apparal ( DLA ) +4.33% , Canada Goose ( GOOS ) +4.31% , Hanesbrands ( HBI ) +4.08% , and PVH ( PVH ) +3.51% .

Nike ( NYSE: NKE ) gained 1.75% just ahead of its earings report, while Lululemon ( LULU ) +3.05% and Under Armour ( UAA ) +1.49% also were higher. Read the Nike earnings preview.

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