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Why Apparel and Shoe Companies Deckers Outdoor, Gap, and Abercrombie & Fitch Rallied Today, Even as the Broader Markets Plunged Again
Shares of several apparel retailers, such as Deckers Outdoor (NYSE: DECK), Gap (NYSE: GAP), and Abercrombie & Fitch (NYSE: ANF), rallied big on Friday, up 4.3%, 6.3%, and 3%, respectively, as of 2:37 p.m. ET, even as the broader markets plunged for the second day in a row. By contrast, the S&P 500 index was down an ugly 5.5% at that time. As with most major moves in the markets these days, the outperformance of these apparel companies came down to a statement from President Donald Trump, spelled out in a midday post on Truth Social.Of course, the post was about tariffs, specifically regarding Vietnam.Continue reading
Shares of several apparel retailers, such as Deckers Outdoor (NYSE: DECK), Gap (NYSE: GAP), and Abercrombie & Fitch (NYSE: ANF), rallied big on Friday, up 4.3%, 6.3%, and 3%, respectively, as of 2:37 p.m. ET, even as the broader markets plunged for the second day in a row. By contrast, the S&P 500 index was down an ugly 5.5% at that time.
As with most major moves in the markets these days, the outperformance of these apparel companies came down to a statement from President Donald Trump, spelled out in a midday post on Truth Social.
Of course, the post was about tariffs, specifically regarding Vietnam.
