Why Apparel Companies Rocketed Higher This Week
News of progress in U.S.-China trade talks helped the stocks of apparel and consumer goods companies that source from China. Shares of apparel and consumer goods companies with significant exposure to China, such as PVH Corp. (NYSE: PVH), Revolve Group (NYSE: RVLV), and Mattel (NASDAQ: MAT), rallied hard this week, increasing 14.1%, 15.5%, and 16.5%, respectively, as of 12:30 p.m. ET Thursday, according to data from S&P Global Market Intelligence. The U.S. and China held talks last weekend and on Monday announced that they would be removing retaliatory tariffs announced last month for 90 days while trade talks continue.