Chinese shoppers may be ready to hit the road again when the country reopens, a positive tailwind for certain retail stocks, according to Wells Fargo. “With the Lunar New Year beginning on January 21, we believe that reopening to several easier regional comparison quarters will benefit companies with the largest exposure,” analyst Ike Boruchow wrote in a report Thursday. He added that most companies in the company’s retail space have seen sales decline between 20% and 40% over the past nine months. The companies with the biggest exposure to China’s reopening are Nike, Farfetch, Canada Goose, Kate Spade-parent Tapestry and Michael Kors-owner Capri Holdings. All these retailers have estimated exposure to China ranging from 12% to almost 20%. Of those names, two – Canada Goose and Farfetch – are trading at deep discounts than most in history, meaning now could be a good time to get into the stock. Wells Fargo has an overweight rating on both. The company is taking advantage of Canada Goose’s highly profitable direct-to-consumer channel, which is expected to benefit this year after slow productivity. “While we [near-term] tempered expectations, we see the brand is also positioned for earnings snapback due to greater use of Chinese infrastructure, “said Boruchow, adding that Canada Goose has at least tripled its Chinese stores in the past few years. For Farfetch, Wells Fargo sees some difficult quarters on the front but some positive catalysts as well, including China reopening. [we] continue to see significant upside from here,” Boruchow said.