uploads///Apparel Sector Stock Price Change Between January  to February

The Apparel Sector’s Slide Last Week

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Nov. 20 2020, Updated 3:35 p.m. ET

The S&P 500 Apparel and Accessories index

As discussed in the previous part, the S&P 500 (SPX) erased some of its YTD (year-to-date) gains last week (between January 29 and February 2), recording its largest drop over a week in the last two years. The index fell 3.8% and is currently sitting at a YTD gain of 3.3%. The seven-company S&P 500 Apparel and Accessories index fell 3.8% during the week and is sitting at a YTD gain of 5.2%.

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Who were the biggest losers?

Ralph Lauren (RL) was one of the biggest losers in the apparel index, falling ~8% last week. The key reason behind this decline was the company’s unimpressive financial results—its comparable sales fell ~10% in North America.

All other stocks in the index also fell. Hanesbrands (HBI) fell 7.4%, Under Armour (UAA) fell 6.6%, Michael Kors (KORS) fell 4.2%, Tapestry (TPR) fell 3.7%, VF (VFC) fell 2%, and PVH (PVH) fell 1.8%. All companies have posted YTD gains, except Under Armour.

Guess (GES) fell 23.6% during the week, triggered by a “#metoo” tweet from model and actress Kate Upton about the sexual conduct of the company’s co-founder, Paul Marciano. “It’s disappointing that such an iconic women’s brand @GUESS is still empowering Paul Marciano as their creative director #metoo,” tweeted Upton. Afterwards, Guess stock fell 18% on February 1 and another 3.3% the next trading day.

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