14 Sep Overheard On Wall Street: Athletic Shoe Sales, Under Armour And Crocs
Read on for the breakdown of this week’s Wall Street shoe chatter.
Athletic Shoe Sales
The first week of September saw increased momentum in athletic footwear, with total U.S. point of sales up 4.2 percent year-on-year, according to a report by Citi Research analyst Kate McShane, who referenced data from Sport Scan Info.
McShane noted double-digit sales growth in casual athletic, consisting of brands such as Nike, Skechers and Converse, up nearly 16 percent. Sales in the basketball category gained 6.5 percent year-over-year, which was significantly below last year’s increase of 20.5 percent. A similar trend occurred in running, with sales up 4.8 percent year-over-year but not as much of a gain as last year’s same-period growth of 7 percent.