While the cyclical consumer product market in general was trading up around 2.5 percent above the S&P 500 Monday, the apparel and accessories industry furthered the gap, outperforming the S&P as a whole by nearly 3.5 percent.
The sector was led by G-III Apparel Group, Ltd. (NASDAQ: GIII) and Vera Bradley, Inc. (NASDAQ: VRA), helped along by watchmakers Fossil Group Inc (NASDAQ: FOSL) and Movado Group, Inc. (NYSE: MOV), with athletic apparel names Lululemon Athletica inc. (NASDAQ: LULU) and Under Armour Inc (NYSE: UA) pushing along from the back.
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Monday's Performances, At Time Of Writing
- Fossil Group was up over 3 percent.
- G-III was trading up nearly 9 percent, adding to gains held from Friday despite a disappointing Q3 report.
- Lululemon gained over 3.5 percent leading into its Q3 results expected Wednesday after market close.
- Movado was up 2.83 percent to trade at $29.05.
- Under Armour gained about 2 percent early on news of an exclusive 10-year contract with the Fanatics and the MLB.
- Vera Bradley spiked by 5 percent shortly after the market open following a reiteration of Wunderlich’s bullish rating.