<div id="readability-page-1"><div>** 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 and American Eagle benefited from a denim boom; shares up ~10%, ~22% and 60% YTD respectively** Nike 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 dropped 48% YTD after nine years of gains** High-end yogawear-maker Lululemon Athletica 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 Tabby handbags and Ralph Lauren’s premium apparel** The broader S&amp;P Composite 1500 Apparel Retail Index (.SPCOMRETA) up ~22% YTD, while S&amp;P Composite 1500 Apparel, Accessories &amp; Luxury Goods (.SPCOMTEXT) down 8% YTD** S&amp;P 500 Consumer Durables and Apparel index (.SPLRCLP) down 9.5% vs a 17% rise in the S&amp;P 500 index** Apparel, footwear companies <div><table><tbody><tr><td>Company</td><td>RIC</td><td>2025 YTD</td><td>2024</td><td>2023</td></tr><tr><td>Abercrombie &amp; Fitch Co </td><td></td><td>-14.7% </td><td> 69.43%</td><td> 285.07%</td></tr><tr><td>Gap Inc </td><td></td><td>9.6%</td><td> 13.01%</td><td> 85.37%</td></tr><tr><td>Levi Strauss &amp; Co</td><td></td><td>21.85%</td><td> 4.59%</td><td> 6.57% </td></tr><tr><td>VF Corp</td><td></td><td>-14.91</td><td> 14.15%</td><td> -31.91%</td></tr><tr><td>Lululemon Athletica Inc </td><td></td><td>-44.9% </td><td> -25.21%</td><td> 59.59%</td></tr><tr><td>American Eagle Outfitters </td><td></td><td>60.1% </td><td> -21.22%</td><td> 51.58%</td></tr><tr><td>Guess Inc </td><td></td><td>19.1% </td><td> -33.61%</td><td> 11.45%</td></tr><tr><td>Under Armour </td><td></td><td>-37.9% </td><td> -5.80%</td><td>-13.48% </td></tr><tr><td>G-III Apparel Group Ltd </td><td></td><td>-8.9%</td><td> -4.00%</td><td>147.85% </td></tr><tr><td>Nike Inc </td><td></td><td>-19.1% </td><td> -30.30%</td><td> -7.21%</td></tr><tr><td>On Holding </td><td> (ONON.O) </td><td>-13.4% </td><td> 103.08%</td><td> 57.17%</td></tr><tr><td>Deckers Outdoor</td><td></td><td>-48.3% </td><td> 82.30%</td><td> 67.46%</td></tr><tr><td>Macy's </td><td></td><td>30.7% </td><td> -15.85%</td><td>-2.57% </td></tr><tr><td>Kohls</td><td></td><td>44.9%</td><td> -51.05%</td><td>13.58% </td></tr></tbody></table></div>** Luxury companies<div><table><tbody><tr><td>Company</td><td>RIC</td><td>2025 YTD</td><td>2024</td><td>2023</td></tr><tr><td>Tapestry</td><td></td><td>98.37%</td><td>77.5%</td><td>-3.3%</td></tr><tr><td>Ralph Lauren</td><td></td><td>55.3%</td><td>60.2%</td><td>35.5%</td></tr><tr><td>Canada Goose</td><td></td><td>24.2%</td><td>-8.3%</td><td>-34.6%</td></tr><tr><td>Capri</td><td></td><td>16.4%</td><td>-58.1%</td><td>-12.4%</td></tr></tbody></table></div></div></div>

In 2025, brands like American Eagle and Gap thrived due to a denim boom, with shares rising 60% and 22% respectively. However, athleisure brands struggled under tariff pressures, with Nike's stock down 19% and Lululemon down 45%. The S&P Composite 1500 Apparel Retail Index rose 22% YTD, contrasting with declines in other apparel sectors. Affluent teens drove demand for luxury items, while Deckers Outdoor saw a 48% drop in stock value. Overall, the apparel market showed mixed results amid changing consumer preferences and economic challenges.

Denim boosts American Eagle and Gap, but tariffs drag athleticwear in 2025