Mon, Jan. 11, 10:09 AM
- Shoe stocks are under pressure after channel checks on pricing add a new layer of worry.
- Trading lower in morning action are Crocs (CROX -3.2%), Deckers Outdoor (DECK -2.1%), Wolverine Worldwide (WWW -2.4%), Steven Madden (SHOO -2.1%), Skechers (SKX -0.6%), Columbia Sportswear (COLM -2.8%), and VF Corp (VFC -2.6%).
- Under Armour just dipped below $70 after being as high as $105 in October.
- The panicky trading isn't encapsulating sector giant Nike (NKE +0.8%) or the Adidas (OTCQX:ADDYY +3.3%) ADRs.
- Previously: Under Armour slides as new footwear pricing concerns crop up (Jan. 11 2016)
Nov. 20, 2015, 10:09 AM
- Strong earning reports from Foot Locker (FL +7.9%), Hibbett Sports (HIBB +4.7%), Sportsman's Warehouse Holdings (SPWH +19.6%) seem to be reverberating around the sportswear/footwear sector.
- Lululemon (LULU +5.3%), Big Five Sporting Goods (BGFV +2.4%), Skechers (SKX +4.4%), Columbia Sportswear (COLM +4.1%), Under Armour (UA +3.6%), V.F. Corp (VFC +1.7%), Steven Madden (SHOO +3.5%), Crocs (CROX +2.2%), and Wolverine Worldwide (WWW +3.3%) are all solidly higher.
- Cabela's (CAB +7.2%) is higher off more merger speculation, while Nike (NKE +5%) gave investors plenty of reasons to smile last night on the buybacks and dividend front.
- Dick's Sporting Goods (DKS -0.2%) hasn't joined the sportswear party quite yet as the company's large retail footprint continues to dampen enthusiasm.
Oct. 23, 2015, 10:37 AM
- Shoe stocks are falling sharply after earnings reports from Skechers (SKX -34%) and Under Armour (UA -4.1%) reset expectations on a sector where valuation has been stretched out.
- Decliners today include Rocky Brands (RCKY -1.7%), Crocs (CROX -2.2%), Steven Madden (SHOO -6.2%), Deckers Outdoor (DECK -4.5%), Columbia Sportswear (COLM -9.2%), Nike (NKE -1.8%), DSW (DSW -3.7%), and Caleres (CAL -4.3%).
- Retail shoe selling channels such as Dick's Sporting Goods (DKS -2.3%), Foot Locker (FL -5.8%), and Finish Line (FINL -4.4%) are also sinking.
- Previously: Revenue miss at Skechers has investors scrambling (Oct. 23 2015)
Jul. 30, 2015, 10:48 AM
- Shoe stocks are higher after Skechers (SKX +13.8%), Steve Madden (SHOO +2.9%), and Crocs (CROX +8.7%) all top estimates in Q2.
- Skechers showed the strongest growth rates of the trio, although pricing and demand trends look positive across the sector.
- Notable shoe movers include Wolverine Worldwide (NYSE:WWW) +1.3%, Deckers Outdoor (NYSE:DECK) +1.0%, DSW (NYSE:DSW) +1.9%.
Mar. 17, 2015, 11:31 AM
- Shoe stocks are higher after DSW impresses with its quarterly report and Foot Locker is tapped for more gains.
- The sector has outperformed broad retail this year buoyed by strong demand for athletic shoes.
- Previously: DSW +7% after impressive comp (Mar. 17 2015)
- Previously: Foot Locker investment seen as a safer Nike bet (Mar. 17 2015)
- Gainers: DSW +4.1%, Brown Shoe (NYSE:BWS) +3.1%, Steven Madden (NASDAQ:SHOO) +1.9%, Finish Line (NASDAQ:FINL) +1.1%, Foot Locker (NYSE:FL) +1.1%, Shoe Carnival (NASDAQ:SCVL) +1.1%.
Feb. 24, 2015, 7:37 AM
- Steve Madden (NASDAQ:SHOO) reports wholesales business revenue 1% to $270.9M in Q4.
- Strength with the Dolce Vita brand was seen during the quarter.
- Gross margin rate -350 bps to 34.3% due in part to extra air freight costs as a result of the port slowdown on the West Coast/
- Operating expenses as a percentage of sales +240 bps to 25.6%.
- Inventory +25.8% Y/Y to $92.677M.
- 2015 guidance: Sales growth of 7% to 9% expected. EPS is forecast to fall in a range of $1.85 to $1.95.
- SHOO -0.4% premarket.
Oct. 20, 2014, 9:01 AM
- Steve Madden (NASDAQ:SHOO) slumps in early trading after posting preliminary Q3 results below expectations.
- The company says Q3 sales were $392M vs. $415M consensus.
- Q3 EPS is estimated to be $0.61-$0.62 vs. $0.67 consensus.
- On a dour note, execs cite a continued lack of significant footwear fashion trends.
- SHOO -9.2% premarket.
Jul. 31, 2014, 10:40 AM
- Steven Madden (SHOO -5.2%) slips after the firm's guidance comes in below analyst estimates.
- FY14 EPS guidance is set at $2.00-$2.02 vs. $2.02-$2.15 prior and $2.14 consensus.
- Heightened promotional activity is taking a toll on margins for the shoe seller.
Dec. 30, 2013, 11:34 AM
- Shares of Crocs (CROX +17.9%) trade at their highest level since July after the company says it will get back to buying back shares after working out a $350M investment from Blackstone.
- Sterne Agee thinks the retailer still has more house cleaning to do. Analyst Sam Poser says Chairman of the Board Tom Smach and two members of the management team who were also Felxtronics alums need to be axed.
- Other shoe stocks are trading higher off the Crocs news: DECK +1.4%, WWW +1.7%, SHOO +1.7%, SKX +1.1%.
Aug. 5, 2013, 8:51 AM
- Goldman upgrades Steve Madden (SHOO) from Sell to Buy and raises the price target on the shares to $69 from $43.
- Analyst Taposh Bari says the company's balance sheet is "overcapitalized [and] now has 1.3x net cash/EBITDA" which could mean "more meaningful buybacks, dividends, and/or M&A."
- Shares +3.7% premarket.
Jun. 7, 2013, 10:42 AM
Steve Madden (SHOO +1.3%) jumps on an initiation at Piper Jaffray (Overweight, PT $55). Analyst Erinn Murphy says the company's namesake brand enjoys "top-of-mind and growing" brand awareness (how does one improve on "top-of-mind" awareness?) and should thus be able to comfortably deliver "sales growth in the high-single digits and earnings growth in the low-double digit to mid-teens range on an annual basis."| Jun. 7, 2013, 10:42 AM
Nov. 27, 2012, 9:47 AM
Goldman Sachs has shoes on its mind. Beyond lining up Crocs (CROX +7.3%) as its favorite name in the sector, the firm starts research on Sell-rated Steven Madden (SHOO -2.1%) and launches coverage on Deckers Outdoor (DECK -0.1%) and Wolverine World Wide (WWW -1.6%) with Neutral ratings. The biggest takeaway from the Goldman dip into the sector is that the firm isn't convinced Crox and Deckers Outdoor are weighed down with "broken fads" for headline products.| Nov. 27, 2012, 9:47 AM | 2 Comments
Jun. 29, 2012, 6:47 AM
Jun. 18, 2012, 10:00 AM
May 21, 2012, 2:11 PMShares of a number of shoe-sellling companies jump higher after Friday's double-dose of positive earnings reports from Foot Locker and Brown Shoe shine a brighter spotlight on the sector. Could troubles at Sears Holdings and J.C. Penney's be partially behind the sudden resurgence of mall-based shoe outlets? Advancers: CROX +5.5%, DECK +4.1%, SHOO +2.6%, SKX +3%, KSWS +5.2%. | May 21, 2012, 2:11 PM | 1 Comment
Nov. 1, 2011, 11:12 AM
Shares of Steven Madden (SHOO) knock out a 3.2% gain after beating Q3 EPS estimates by $0.04 on revenue of $314M (+71% Y/Y) and raising its outlook for FY11. The company now sees EPS in a range of $2.20-$2.25, higher than its prior guidance of $2.15-$2.20.| Nov. 1, 2011, 11:12 AM