Fri, Aug. 19, 11:14 AM
- Foot Locker (FL +10%) rips higher after posting strong sales growth. The company cited strength in basketball, running, and classic footwear during the quarter.
- Under Armour (NYSE:UA) is up 1.6% and Nike (NYSE:NKE) is 2.7% higher off the strong read on athletic shoe sales.
- Other notable gainers include Skechers (SKX +1%), Wolverine World Wide (WWW +3.4%), Rocky Brands (RCKY +1.5%), Steven Madden (SHOO +1.4%), Caleres (CAL +1%), and Crocs (CROX +1%) -- all ahead of broad market averages.
- An underlying theme continuing to emerge in the shoe sector is that discretionary spending by millennials on the category is stronger than what is being seen in other areas of retail. Also of note, the millennial group has shown loyalty to power brands.
- Previously: Foot Locker beats by $0.04, beats on revenue (Aug. 19)
- Previously: Foot Locker higher on earnings beat and positive comp (Aug. 19)
Tue, Aug. 2, 7:01 AM
Mon, Aug. 1, 5:30 PM
- ABC, ACCO, ADM, AET, AFSI, ALLT, ARW, AVP, BOFI, CAH, CARB, CEQP, CHH, CIE, CMI, CPPL, CSTM, CVS, DISCA, ECL, EIGI, EMR, ENOC, EPC, ETN, ETR, EXPD, FDP, GEO, GLT, GNRC, H, HCLP, HCN, HEP, HMC, HRS, HW, IDCC, IDXX, IIVI, IPI, IQNT, JLL, MLM, MMP, MNK, MOS, MZOR, NI, NJR, NNN, NRZ, NS, NWN, OZM, PBI, PFE, PG, PNW, RCL, RDC, RHP, SABR, SALE, SCAI, SHOO, SHPG, SODA, STX, SUI, TAP, TDC, VG, VSH, WCG, WNR, WNRL, XYL, ZEUS
Fri, Jul. 22, 10:13 AM
- A weak earnings report from Skechers (SKX -22%) and a warning from VF Corp (VFC -2.8%) is taking down a number of peers of the apparel sellers.
- Soft demand in Asia, disruption in Europe, and continued F/X headwinds were cited by both companies.
- Oxford Industries (OXM -2.1%), Wolverine World Wide (WWW -2.6%), Crocs (CROX -2.9%), Steven Madden (SHOO -1.8%), and G-III Apparel Group (GIII -2.3%) are all lower.
- The negative start to the earnings season for the apparel/footwear sector appears to be impacting Nike (NKE -0.8%) and Under Armour (UA -0.9%) as well.
- Previously: Skechers -8% after missing Q2 expectations (July 21)
- Previously: V.F. beats by $0.01, misses on revenue (July 22)
Mon, Jun. 20, 11:29 AM
- Steve Madden (SHOO +2.5%) could be well-positioned to benefit from the increased focus on fashion sneakers and sandals by younger women, notes Brian Sozzi.
- The company's double-digit same-store sales growth last quarter backs up the contention of Sozzi that the retailer has "nailed" its latest offering in open toe dress shoes, sandals, and fashion sneakers. The steady growth in demand for fashion sneakers (online and B&M) is a bright spot in the apparel industry (see Google Trends chart).
- Another point in Steve Madden's favor is the Wal-Mart selling channel which could see a bounce this summer.
- Investors have plenty of time to wait for an entry point on SHOO with the next earnings report not scheduled until August 4.
- Shares of Steve Madden are up 17% YTD, but are still 21% lower than their 52-week high.
Mon, May 23, 10:27 AM
- The U.S. footwear industry is expected to be big winner from the Trans-Pacific Partnership trade agreement, according to analysis from the U.S. International Trade Commission.
- U.S. footwear imports are expected to increase by 2.7% or $1.1B vs. the 2032 baseline growth estimate, with the bulk coming from Vietnam at the expense of China.
- Exports from the U.S. are seen increasing 12.2% as more parts are sent to Vietnam for final assembly.
- TPP is anticipated to have a positive impact on U.S. output and footwear-related employment levels.
- Footwear is the sector with the largest positive benefit from reduced tariffs in what could be a favorable development for margins.
- Full U.S. ITC report (.pdf)
- Related footwear stocks: DSW, SHOO, FINL, FL, UA, SCVL, UA, NKE, OTCQX:ADDYY, DECK, WWW, SKX.
Sat, May 14, 11:01 AM
- The retail sector stays in focus next week with Target (NYSE:TGT), Wal-Mart (NYSE:WMT), TJX Companies (NYSE:TJX), and Ross Stores (NASDAQ:ROST) all due to report on Q1 earnings to follow on a week of dismal reports and guidance from the department store sector (Nordstrom, L Brands, Macy's, Kohl's). Home improvement chains Home Depot (NYSE:HD) and Lowe's (NYSE:LOW) are also due to spill numbers.
- The story from the Commerce Department's April read of retail sales (+3.0% Y/Y, +1.3% M/M) is one of a consumer spending on housing, entertainment, and personal care/fitness over apparel and general merchandise. The 10% Y/Y gain in the nonstore retailer category also tipped that the Amazon (NASDAQ:AMZN) Effect is magnifying.
- Amplify ETFs CEO Christian Magoon tells Seeking Alpha that the traditional retail model appears to be broken. Amplify's Online Retail ETF (NASDAQ:IBUY) is a bet on companies such as Netflix (NASDAQ:NFLX), GrubHub (NYSE:GRUB), Blue Nile (NASDAQ:NILE), and Shopify (NYSE:SHOP) that are reeling in millennial dollars.
- Magoon on retail: "Traditional retailers face the headwinds of higher cost structures including the very real threat of increasing wages in the form of the $15 minimum wage campaign. Less flexible with inventory management, they also are more vulnerable to issues like weather and changing consumer preferences."
- Retail ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, PBJ, IYK, FXD, IYC, RHS, FDIS, PEJ, FSTA, PSL, SCC, RCD, UCC, PEZ, PMR, PSCC, UGE, PSCD, SZK, BITE.
- Apparel stocks: KATE, ANN, LULU, PVH, VNCE, CRI, UA, HBI, VFC, COLM, GIL, SQBG, JCP, KSS, DDS, M, JWN, ARO, AEO, ANF, WTSL, TLYS, CACH, ZUMZ, PSUN, EXPR, BKE, GIII, SQBG, HBI, VRA, ICON, SHOO, PERY, DXLG, BONT, GES, URBN, RL,GIL, NKE, OXM, HBI, VNCE, PERY, ICON, FL.
Sun, Apr. 24, 6:13 PM
- via Credit Suisse, in order of # of small-cap funds who own the stock. Following the stock is the number of funds who own it, and the change vs. previous quarter:
- IDTI - Integrated Device Tech 96 | 14
- MSCC - Microsemi 86 | 10
- MANH - Manhattan Associates 85 | 5
- CBM - Cambrex 80 | 4
- EEFT - Euronet Worldwide 80 | 8
- POR - Portland General Electric 79 | 0
- EME - Emcore 78 | 6
- LAD - Lithia Motors 78 | 6
- AMSG - Amsurg 78 | 0
- JCOM - J2 Global 77 | 4
- PFPT - Proofpoint 77 | 4
- AHS - AMN Healthcare 74 | 2
- EXPR - Express Inc. 74 | 3
- ICUI - ICU Medical 73 | 0
- LGND - Ligand Pharma 73 | 6
- PVTB - Privatebancorp 73 | -2
- PRXL - Parexel 72 | 5
- AEL - Americal Equity Investment Life 71 | 3
- TYL - Tyler Technologies 71 | 7
- CRZO - Carrizo Oil & Gas 69 | 3
- MENT - Mentor Graphics 69 | -9
- MNRO - Monro Muffler Brake 68 | 0
- WAL - Western Alliance Bancorp 68 | 8
- AEO - American Eagle Outfitters 67 | 0
- LOGM - Logmein 67 | -1
- OZRK - Bank of the Ozarks 67 | 5
- SHOO - Steven Madden 67 | -10
- STE - Steris 67 | 20
- WNC - Wabash National 67 | -1
- Credit Suisse recommends reducing exposure in small-cap "darlings" due to less opportunity for differentiation; historical underperformance; and outflows.
Fri, Apr. 22, 7:15 AM
- Steve Madden (NASDAQ:SHOO) announces it recorded a 10.7% increase in same-store sales in its retail segment during Q1.
- Sales in the wholesale segment were flat Y/Y at $275.8M.
- Gross margin rate improved 90 bps to 35.3% during the quarter, while the operating income rate was 10 bps lower at 9.1% of sales.
- The effective tax rate paid during the quarter fell to 32.0% from 34.3% a year ago.
- The company expects revenue to increase 2% to 4% this year. EPS is seen landing in a range of $1.93 to $2.03. vs. $2.02 consensus.
- Now read Steve Madden Has Minimal Upside From Here
Fri, Apr. 22, 7:04 AM
Thu, Apr. 21, 5:30 PM
Thu, Mar. 31, 10:21 AM
- Investors are giving companies that make shoes a hard look today. Macroeconomic factors including as strong U.S. dollar have been tugging on earnings in the sector.
- Shoe stocks ahead of broad market averages include Deckers Outdoor (DECK +3.6%), Crocs (CROX +5.1%), Steven Madden (SHOO +2.1%), Wolverine Worldwide (WWW +1.4%), Genesco (GCO +1.3%), and Boot Barn (BOOT +4.3%).
- Now read Are Crocs About To Make An Unlikely Comeback?
Wed, Feb. 24, 7:33 AM
- Steven Madden (NASDAQ:SHOO) reports retail sales rose 8.9% to $79.3M in a weather-challenged Q4. Same-store sales were up 6.1% during the period.
- Gross margin rate +180 bps to 36.1%.
- Operating expenses as a percentage of sales increased 10 bps to 25.6%.
- The company ended the quarter with inventory up 10% Y/Y to $102.08M.
- Steven Madden sees FY16 sales rising 2% to 3% and EPS falling in a range of $1.93-$2.03 vs. $2.10 consensus.
- Previously: Steven Madden EPS and revenue in-line (Feb. 24 2016)
Wed, Feb. 24, 7:12 AM
- Steven Madden (NASDAQ:SHOO): Q4 EPS of $0.43 in-line.
- Revenue of $344.25M (+0.5% Y/Y) in-line.
Tue, Feb. 23, 5:30 PM
Thu, Feb. 18, 7:07 AM