enot-poloskun/E+ via Getty Images
- Wedbush launches new coverage in the footwear and apparel sector with a wave of bull ratings.
- Analyst Tom Nikic points to a healthy consumer, easy comparables for Q4 and the eventual return of foreign tourism as sector tailwinds that could boost demand beyond expectations. It is a nice dose of confidence for the sector amid the expectation for supply to be constrained into the spring for some companies.
- Sorting through the names and supply chain implications, Wedbush starts off Under Armour (UAA +2.4%), Nike (NKE +2.2%), Adidas (OTCQX:ADDYY -1.2%), Poshmark (POSH -0.1%), ThredUP (TDUP +6.9%), Revolve Group (RVLV +6.2%), PVH (PVH +2.3%), Steven Madden (SHOO +1.3%) and Ralph Lauren (RL +3.3%) with Outperform ratings.
- Coverage is launched on Deckers Outdoor (DECK -0.7%), Skechers (SKX +1.1%), Farfetch (FTCH -0.8%), Foot Locker (FL -1.6%), HanesBrands (NYSE:HBI), VF Corp. (VFC -1.3%), Carter's (CRI -0.7%), RealReal (REAL -1.8%) and Stitch Fix (SFIX +0.3%) with a Neutral rating. Some of those names will be hit harder by the supply chain issues and margin pressures.
- See the overall top rated stocks in the footwear sector and apparel sector.