Sat, May. 2, 2:00 PM
- There's a vibrant rally ongoing with shoe stocks as some stars align for the sector.
- Analysts have cited a consumer trend toward a higher spend in the category amid positive macroeconomic factors, while some relief with input costs (rubber) and foreign exchange swings (labor) has helped with margins.
- Mark down athleisure and brand-loyal millennials as two other positive factors for shoe sellers.
- The U.S. retail sneaker market is now worth close to $28B, according to Sneakernomics.
- SportsOneSource pegs the international market at $55B and growing briskly.
- In what could also be considered a sign of a strong retail segment, designer basketball shoes even have a sizzling secondary market.
- The list of shoe companies - retail level and wholesalers - with shares that have outperformed the S&P 500 and the S&P Retail ETF over the last 90 days includes Columbia Sportswear (NASDAQ:COLM), Deckers Outdoor (NYSE:DECK), Nike (NYSE:NKE), Foot Locker (NYSE:FL), Crocs (NASDAQ:CROX), Steve Madden (NASDAQ:SHOO), Brown Shoe (NYSE:BWS), Skechers (NYSE:SKX), Finish Line (NASDAQ:FINL), Shoe Carnival (NASDAQ:SCVL), and Wolverine Worldwide (NYSE:WWW).
- Under Armour (NYSE:UA) and Adidas (OTCQX:ADDYY) are also ahead of market averages over the same three-month period.
- If an ETF of the shoe stocks listed above existed, it would have doubled up the return of the S&P 500 Index since January.
Wed, Apr. 15, 7:58 AM
- Guggenheim Partners initiates coverage on American Eagle Outfitters (NYSE:AEO) and Ascena Retail (NASDAQ:ASNA) with Buy ratings.
- Solid execution at both companies is cited.
- The call from the investment firm on AEO and ASNA is a notch above the Neutral ratings it lined up on Deckers Outdoor (NYSE:DECK), Abercrombie & Fitch (NYSE:ANF), and Aeropostale (NYSE:ARO) on growth concerns.
Wed, Apr. 15, 7:12 AM
- Deckers Outdoor (NYSE:DECK) announces the president of its Ugg brand will leave the company to spend more time with her family.
- Connie Rishwain has been working for the Ugg business since 1995.
- Ugg brand sales rose 6.5% Y/Y to $736 during Decker's FQ3 as full price selling exceeded expectations.
- Previously: Teva brand gets a new boss (Apr. 08 2015)
Wed, Apr. 8, 12:28 PM| Comment!
Tue, Feb. 24, 11:23 AM
- Data from NPD Group confirms that athleisure and casualwear are providing the strongest growth in the fashion industry.
- Apparel sales growth was flat Y/Y in 2014 at $208.3B.
- Footwear sales +2% to $62B.
- Accessories +2% to $52.7B.
- Categories with strong demand included sports bras, polo/golf/rugby tops, children's footwear, sports jerseys, handbags, leggings, and jewelry accessories.
- NPD says an "underlying sense of rebellion" driven by millennials is a major factor in the sector.
- Apparel/footwear stocks: CROX, DECK, WWW, SHOO, SKX, SCVL, BWS, FL, FINL, NKE, 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, BWS, PERY, DXLG, BONT, GES, URBN, RL,GIL, OXM, HBI, VNCE, PERY, ICON.
Wed, Feb. 18, 12:49 PM
- Though Deckers Outdoor (DECK -1.3%) is still reeling from a FQ3 earnings miss, the company could be heading into a softer comp period.
- A cold weather period appears to have lifted Google searches for the company's boots compared to last year when they were falling.
- The Google action also appears to tip off a pull-forward effect on demand for Uggs as the holiday selling season started earlier.
- Google Trend chart on search query "Uggs" for 2015 vs. 2014.
- DECK -18.8% YTD.
Wed, Feb. 11, 9:45 AM
- The Footwear Distributors and Retailers of America says tariffs on footwear rose 6.6% to $2.671B last year.
- The pace exceeds sales growth in the sector.
- Countries included the Trans-Pacific Partnership (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam) increased duties last year by 24% Y/Y.
- Analysts have noted that a good portion of the tariff tax has hit the bottom line of shoe companies with pricing still very competitive.
- The footwear trade group is pushing Congress to give President Obama Trade Promotion Authority to help bring tariff relief.
- Shoe stocks: CROX, DECK, WWW, SHOO, SKX, SCVL, BWS, FL, FINL, NKE.
Mon, Feb. 9, 9:10 AM
- Deckers Outdoor (NYSE:DECK) is downgraded by Morgan Stanley to an Equal Weight from Overweight.
- The investment firm sets a price target of $82 on the retailer.
- "We don't see significant earnings per share revision potential or a catalyst which may stimulate a re-rating until next holiday," reads the analyst note from MS.
- DECK -1.81% premarket.
Mon, Feb. 2, 9:12 AM| 1 Comment
Fri, Jan. 30, 2:57 PM
- Though execution issues and foreign exchange woes are the story of the day at Deckers Outdoor (DECK -19%), the glass is either half full or half empty depending upon the investment firm pounding the table.
- "Though Ugg sales came in below expectations, we are encouraged by strong full-price selling of casual, weather and specialty boots," writes Jefferies analyst Randal Konik.
- Jefferies has a Buy rating and $110 PT on Deckers.
- Sterne Agee thinks the company will correct its inventory misfire this year with the Uggs brand.
- Telsey Advisory Group cut its rating to Market Perform and set an $80 price target.
- Canaccord Genuity slashed its PT to $84 from $108.
- Previously: Deckers -13.5% on FQ3 miss, weak guidance (Jan. 29 2015)
Fri, Jan. 30, 12:45 PM
Fri, Jan. 30, 9:12 AM| 4 Comments
Thu, Jan. 29, 6:19 PM
- Deckers (NYSE:DECK) guides for 10% Y/Y FQ4 revenue growth and breakeven EPS; consensus is for 11% growth and EPS of $0.13. FY15 (ends March. '15) UGG revenue growth guidance has been lowered to 11% from 14%.
- FQ3 UGG brand revenue +6.5% to $736M; Teva brand -12.1% to $13.6M; Sanuk brand -7.9% to $20.5M; other brands +96.5% to $14.6M.
- Retail sales +8.3% to $192.7M, e-commerce +25.2% to $146.9M. U.S. revenue grew just 3.1% to $526.3M; international +14.6% to $258.4M.
- Gross margin rose 180 bps to 52.9%, but SG&A spend rose to 25.6% of revenue from 23.7%. $13.3M was spent on buybacks.
- CEO Angel Martinez: "Full price selling of casual boots, weather boots, and specialty classics exceeded expectations and in some cases outpaced our inventory investments. At the same time, demand for core Classic collection accelerated as the quarter progressed but overall sales were down due in part to a slow October and November selling period and tough year-over-year comparisons. Along with foreign exchange headwinds, this led to the revenue shortfall for the quarter."
- FQ3 results, PR
Thu, Jan. 29, 5:35 PM
Thu, Jan. 29, 4:18 PM| Comment!
Wed, Jan. 28, 5:35 PM
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DECK vs. ETF Alternatives
Deckers Outdoor Corp is engaged in designing, marketing and distributing innovative footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities.
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