** 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% |
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))