Apparel, accessories up as lifting restrictions give hope to Malls

Fossil

26/05/2021 17:39

** Apparel and accessories stocks gained ground on Wed as
outlook for brick and mortar retailers brightens amid lifting
social distancing restrictions
    ** Apparel retailers jumped: Express Inc  EXPR.K  surged
22.3%, Abercrombie & Fitch  ANF.N  jumped 10.0%, Gap Inc  GPS.N 
advanced 4.7%
    ** Accessories climbed: Fossil Group Inc  FOSL.O  rose 11.8%
and Under Armour  UAA.N  gained 5.4%
    ** On Wed, ANF beat qtrly rev consensus after COVID
restrictions were lifted and predicted Q2 sales will be above
pre-pandemic levels  urn:newsml:reuters.com:*:nL3N2ND2YV
    ** On May 10, mall REIT Simon Property Group  SPG.N 
reported Q1 EPS of $1.36, down 4.9% y/y and mall occupancy of
90.8%; SPG was last up 2.0%
    ** So far this year, the S&P 1500 Apparel, Accessories and
Luxury index  .SPLRCTEXT  is up 13%, while the S&P 500 Apparel
Retail index  .SPLRCRETA  has gained >7% over the same time
period

 (Reporting by Stephen Culp)
 ((stephen.culp@thomsonreuters.com; 646-223-6076;))