BIRD - Apparel and footwear stocks soar with China anxiety easing a bit

Positive developments out of China sent the broad apparel and footwear sector higher on Wednesday, PVH Corporation (PVH +8.6%), Ralph Lauren (RL +7.7%), Capri Holdings (CPRI +7.2%), Canada Goose (GOOS +6.6%), Kontoor Brands (KTB +4.9%), Vince (VNCE) and Levi Strauss (LEVI +6.0%) were some of the notable gainers from the apparel sector. Footwear stocks Crocs (CROX +8.3%), Caleres (CAL +7.6%), Skechers (SKX +6.4%), Allbirds (BIRD +13.5%), Steven Madden (SHOO +3.3%) and Wolverine World Wide (WWW +2.8%) also made strong moves. Retailers that sell apparel and footwear also rallied with Shoe Carnival (SCVL +9.4%), Boot Barn Holdings (BOOT +5.6%), Victoria's Secret (VSCO +8.1%) and Lululemon (LULU +4.7%) standing out. Nike (NYSE:NKE) also bounced back from its 2022 low with a 3.69% break higher. The athletic apparel giant is set to report earnings next week. Signs out of China earlier in the day were that some companies see the current COVID-19 outbreak as manageable,

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Apparel and footwear stocks soar with China anxiety easing a bit