Footwear products are resonating with shoppers

Footwear products are resonating with shoppers

Shares of footwear companies are rising in morning trading Monday, as analysts say the retailers’ products are resonating with customers.

Christopher Svezia of Susquehanna Financial Group said in a client note that DSW Inc.’s timing was right on the money in the second quarter. The company shifted from basic sandals to seasonal booties in early July, but decided to keep some of its fashion sandals in stores through August. The move helped DSW keep pace with shoppers’ changing tastes and needs.

Svezia maintained a “Positive” rating and $90 price target.

Shares of DSW, which is expected to report its second-quarter financial results on Tuesday, added 65 cents to $81.45.

Brean Capital’s Danielle McCoy started coverage of Wolverine Worldwide Inc. with a “Buy” rating and $63 price target. The analyst cited the company’s large and diverse portfolio and its global reach as some of its strengths.

McCoy views the $1.25 billion acquisition of the performance and lifestyle group from Collection Brands Inc. as “a monumental moment in the history of Wolverine and offers significant growth potential to expand around the world.” The performance and lifestyle group includes the Sperry Top-Sider, Saucony, Stride Ride and Keds brands.

Wolverine’s stock gained 51 cents to $57.69 after trading as high as $58.31 earlier in the day.

Sam Poser of Sterne, Agee and Leach is looking for strong sales of athletic footwear when Shoe Carnival reports its second-quarter results on Thursday. The analyst said that athletic footwear likely did well. He noted that Kohl’s Corp., which has a similar customer base, recently reported that its quarterly athletic footwear sales were strong. Kohl’s also said that its sales were strongest in the Southeast, South Central and Western regions, which is a good indicator for Shoe Carnival because it has about 60 percent of its stores in the southern region.

Poser kept a “Buy” rating and $30 price target.

Shares of Shoe Carnival Inc. rose 19 cents to $26.74 in morning trading.

Poser is looking past disappointing second-quarter results at Foot Locker, saying he has no doubts about the chain’s long-term prospects. Remodeled stores and improving European business are some of the factors likely to give a boost to business, he explained. The analyst considers Foot Locker Inc. a top long-term pick.

Poser reaffirmed a “Buy” rating and $41 price target.

Foot Locker’s stock rose 36 cents to $33.37 in morning trading.