Some US Apparel Retailers Seeing Weakness
Some US Apparel Retailers Seeing Weakness
GPS, ANF, UA, URBN
Gap NYSE:GPS 30.65, -1.16 is down 3.7% after Wedbush observed increased promotional activity at Old Navy. An increase in the number of promotions run by the company is being viewed as a warning regarding the company’s sales. The cautious sentiment is also being reflected in shares of other apparel retailers.
Under Armour NYSE:UA 49.85, -2.31 is down 4.4% and Urban Outfitters NASDAQ:URBN 37.10, -0.27 is off by 0.7%.
On the upside, Abercrombie & Fitch NYSE:ANF 47.16, +0.77 is up 1.7% after Robert W. Baird upgraded the stock to ‘Outperform’ from ‘Neutral.’
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