** Brands offering fresh and popular designs backed by nifty marketing strategies thrived in 2025, as consumers shelled out the occasional big bucks on nice-to-have apparel and accessories
** Athleisure brands felt the weight of tariffs on their margins this year, and tried to pivot to categories such as sports and running
** Gap GPS.N, Levi Strauss LEVI.N and American Eagle AEO.N benefited from a denim boom; shares up ~10%, ~22% and 60% YTD respectively
** Nike NKE.N fell 19%, marking its fourth consecutive yearly decline, as sales in China dropped for six straight quarters and turnaround efforts take a toll on margins
** UGG boots maker Deckers Outdoor DECK.N dropped 48% YTD after nine years of gains
** High-end yogawear-maker Lululemon Athletica LULU.O faces leadership changes, as it loses key consumer demographics to newer competitors; stock down 45% this year
** Affluent teens and younger customers were eager to splurge on items such as Tapestry's TPR.N Tabby handbags and Ralph Lauren’s RL.N premium apparel
** The broader S&P Composite 1500 Apparel Retail Index .SPCOMRETA up ~22% YTD, while S&P Composite 1500 Apparel, Accessories & Luxury Goods .SPCOMTEXT down 8% YTD
** S&P 500 Consumer Durables and Apparel index .SPLRCLP down 9.5% vs a 17% rise in the S&P 500 index
** Apparel, footwear companies
Company
RIC
2025 YTD
2024
2023
Abercrombie & Fitch Co
ANF.N
-14.7%
69.43%
285.07%
Gap Inc
GAP.N
9.6%
13.01%
85.37%
Levi Strauss & Co
LEVI.N
21.85%
4.59%
6.57%
VF Corp
VFC.N
-14.91
14.15%
-31.91%
Lululemon Athletica Inc
LULU.O
-44.9%
-25.21%
59.59%
American Eagle Outfitters
AEO.N
60.1%
-21.22%
51.58%
Guess Inc
GES.N
19.1%
-33.61%
11.45%
Under Armour
UAA.N
-37.9%
-5.80%
-13.48%
G-III Apparel Group Ltd
GIII.O
-8.9%
-4.00%
147.85%
Nike Inc
NKE.N
-19.1%
-30.30%
-7.21%
On Holding
ONON.O
-13.4%
103.08%
57.17%
Deckers Outdoor
DECK.N
-48.3%
82.30%
67.46%
Macy's
M.N
30.7%
-15.85%
-2.57%
Kohls
KSS.N
44.9%
-51.05%
13.58%
** Luxury companies
Company
RIC
2025 YTD
2024
2023
Tapestry
TPR.N
98.37%
77.5%
-3.3%
Ralph Lauren
RL.N
55.3%
60.2%
35.5%
Canada Goose
GOOS.TO
24.2%
-8.3%
-34.6%
Capri
CPRI.N
16.4%
-58.1%
-12.4%
(Reporting by Koyena Das, Sanskriti Shekhar and Juveria Tabassum in Bengaluru)
((Juveria.Tabassum@thomsonreuters.com))
