Why Ralph Lauren, Urban Outfitters, and Gap Are Trading Higher Tuesday
Shares of three well-known clothing retailers -- Ralph Lauren (NYSE: RL), Urban Outfitters (NASDAQ: URBN), and Gap (NYSE: GPS) -- all jumped at least 5% higher Tuesday morning after it was revealed that the U.S. would put off 10% China tariffs on certain products.
For investors of many consumer goods companies, delaying China tariffs until Dec. 15 is welcome news. By postponing tariffs on popular items such as phones, computers, and clothing, among many others, companies will be given a window to avoid tariffs during such important times as back-to-school and holiday shopping, and that's huge. The delay also buys time for the U.S. and China to de-escalate trade tensions -- a call between the two nations is scheduled in two weeks.
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Source Fool.com
