Promising week for fashion stocksWednesday, 29 August 2012
This week promises to be a good one for fashion and apparel industry in general, and for the quoted
companies within it in particular. The likes of Movado, PVH, Michael Kors or Ralph Lauren Corp have kicked off the week rocking the trading floor.
PVH, owner of many labels including Calvin Klein and Tommy Hilfiger, has been on a roll, climbing 5percent Tuesday, also heading for a record closing level. PVH shares have raised 15 percent over the past 30 days, and 32 percent since the start of 2012, stressed various analysts.
Michael Kors Holdings Ltd. also gained, adding 0.28 percent and hitting their 52-week peak of 54.92 dollars on Monday. It’s worthy of a note to remember that shares rocketed almost 100percent since early January.
Still in Wall Street, Nike Inc. upped 2.44 dollars and closed at 98.87 dollars. A Stifel Nicolaus analyst said that demand for the shoe maker’s products may have increased during the back-to-school, reported the ‘Washington Post’.
Fifth & Pacific Companies Inc. (+2.45 percent) formerly Liz Claiborne, has also enjoyed a brisk run, with shares leaping 50 percent year-to-date, they pointed out at ‘SeekingAlpha’. The company released an improved earnings report in July, helped by strong sales growth for its trendier brands: Lucky Brand, kate spade, and Juicy Couture.
In the same vein, Ralph Lauren Corp. humbly climbed Tuesday, scratching 0.29 percent. The stock is still up 16 percent since January, with shares climbing 8percent over the past 30 days.
Finally, Fossil Inc. dropped 0.55 percent after seeing its shares advance 14 percent over the past 30 days and 10percent since the start of the year. The stock hit a 52-week high of 139.20 dollars on April 5, but plunged nearly 40percent in early May over fears that European sales were slipping. The company’s latest earnings report helped alleviate those concerns, sending shares soaring over 30percent shortly after its release on Aug. 7.