Nike, Lululemon Rebound as Trump Touts Call With Vietnam Leader
Apparel and shoemakers’ shares tumbled Thursday after the president unveiled a 46% levy on the Southeast Asian nation.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Shares in companies that have large manufacturing operations in Vietnam, including Nike Inc. and Lululemon Athletica Inc., soared Friday after President Donald Trump said Vietnam was willing to eliminate tariffs to avoid new US levies.
Nike shares erased an earlier loss to gain 3%, while On Holding AG and Skechers USA Inc. rose 5.2% and 2.5%, respectively. Lululemon shares gained 3.2%.