0732 ET - With most product sourced in Asia, apparel companies will be hard hit by the sweeping new U.S. tariff plan, say analysts at Citi, who cut their price targets and FY25-26 earnings estimates for Colombia Sportswear, Levi Strauss, Oxford Industries, PVH, Ralph Lauren and VF Corp. Citi says it doesn't think the apparel makers have enough pricing power to offset an assumed 30% blended tariff rate, and that attempts to raise prices will generally result in weaker demand. Citi downgrades VF to neutral from buy, citing concerns about the company's ability to turn its Vans brand around in the current environment. VF down 4.8% premarket to $11. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
April 07, 2025 07:32 ET (11:32 GMT)
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