Nike, Deckers, AEO Retail Traders Perk Up As Apparel Stocks Rebound On Trump's Hints At Vietnam Tariff Relief

Shares of about half a dozen U.S. apparel firms jumped on Friday after President Donald Trump signaled a softer stance on Vietnam, a major production hub for American clothes and shoe labels.

Trump said on social media that he had a "very productive call" with Vietnamese leader To Lam, who said the country wants to "cut their tariffs down to zero", according to Bloomberg.

Gap, Inc. (GAP) rose 7.3%, leading the rebound. Deckers Outdoor Corp. (DECK) and American Eagle Outfitters, Inc. (AEO) rose around 5%, and athleticwear firms Nike, Inc. (NKE) and Lululemon Athletica Inc (LULU) rose around 3%.

Last week, Trump announced a 46% levy on Vietnam, one of the highest in Asia. That led to a tumble in shares of several American companies that rely on manufacturing in the Southeast Asian nation.

The tariffs on Vietnam take effect on April 9 and will likely push companies to raise consumer prices — just as shoppers have already become value-conscious and are spending more selectively.

Imports from Vietnam grew to $136.6 billion in 2024, up about 19% from 2023, according to official data, as companies shifted their manufacturing away from China amid escalating tensions between Washington and Beijing in recent years.

In terms of countries, the United States received the maximum imports in terms of value from China.

On Stocktwits, sentiment for Nike, Deckers, and American Eagle was last at ‘bullish’ or higher levels, while retail investors were 'neutral' on Gap and Lululemon.

Users posted saying that they see an upside in Nike and Lululemon on Monday after the positive commentary on the Vietnam situation.

According to a Stocktwits poll, about half of over 500 respondents think Nike shares will fall as much as 5% more until they hit a bottom.

NKE is down 24.3% year to date, while DECK is down 47.8%, AEO is down 34.4%, and LULU is down 31%

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