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Why Clothing Retail Stocks Rose Monday

TheMotleyFool

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Why Clothing Retail Stocks Rose MondayPhoto, wide shot, wide-angle lens, Home appliance manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/5d70b6df-fa9b-4237-9702-39c36cb1d4f8.png

Clothing retail stocks climbed higher on Monday, as the COVID-19 infection rate in the U.S. shows a slight decline. That news fueled cautious optimism that life, and in this case the apparel retail sector, could soon return to normal. Among today's rising stocks are American Eagle Outfitters (NYSE: AEO), Urban Outfitters (NASDAQ: URBN), and Capri Holdings (NYSE: CPRI), which closed up roughly 8%, 2%, and 12%, respectively.

Clothing stocks have been so beaten down in 2020 that any sliver of hope is enough to send them at least a little bit higher. All three of these companies have lost to the market average over the last year and year-to-date.