Thu, Aug. 13, 10:41 AM
- Shoe stocks are higher on what's been a slightly down day for broad market averages so far.
- Though a number of factors could be in play - including today's retail sales report and more earnings reports citing strong shoe demand - there's also a sneaky suspicion with some retail analysts that shoe companies are the somewhat forgotten F/X hedge with many of their labor costs overseas.
- Gainers: Under Armour (UA +1.7%), Skeckers (SKX +3.7%), Nike (NKE +0.9%), Steven Madden (SHOO +1.2%), Crocs (CROX +1.9%), Deckers Outdoor (DECK +1.4%), Wolverine World Wide (WWW +1.3%), and Columbia Sportswear (COLM +1.7%).
- Previously: Nike riding high in 'golden age' of sneakers (Aug. 08 2015)
Wed, Aug. 12, 4:27 PM
- The Panama Canal Authority plans to restrict the amount of cargo ships will be allowed to carry through the canal beginning on September 8.
- The action is a result of the low level of water in Gatun Lake and Alajuela Lake resulting from this year's El Nino phenomenon.
- Citigroup has its eyes on the development, noting retailers with potential exposure this fall to reduced shipping to East Coast ports include Carter's (NYSE:CRI), Columbia Sportswear (NASDAQ:COLM), Wolverine Worldwide (NYSE:WWW), Staples (NASDAQ:SPLS), and Steve Madden (NASDAQ:SHOO).
- Panama Canal Advisory (.pdf)
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Mon, Aug. 10, 10:14 AM
- Wolverine Worldwide (WWW +6.2%) trades higher after landing an upgrade from Stifel Nicolaus.
- The investment firm lifts Wolverine to a Buy rating after having it slotted at Neutral.
- Stifel raises its price target on WWW to $34.
- The apparel/footwear company is seen benefiting from a broad increase in shoe demand in the U.S.
- Previously: Tight millennials spend freely on outdoor footwear (Aug. 01 2015)
Sat, Aug. 1, 11:49 AM
- Outdoor footwear sales rose 17% over the last year to mark a significant acceleration from the 1% growth seen in the preceding 12-month period, according to data from NPD Group.
- Performance shoes appear to be a category millennials will spend freely on to defy some of the group's organic-leaning, fashion-ambivalent, and account-sharing trends which have frustrated other pockets of retail. Just ask Coca-Cola, Vera Bradley, McDonald's, and Anheuser-Busch InBev about millennials and brand loyalty.
- Outdoor brands showing momentum over the last year include Merrell (NYSE:WWW), Nike (NYSE:NKE), Vasque (private), Salomen (OTC:AGPDF, OTCPK:AGPDY), Sorel (NASDAQ:COLM), Timberland (NYSE:VFC). High-flying Skechers (NYSE:SKX) and indie REI are also active in the category.
- The positive outdoor shoes sell-through rate in the U.S. is seen expanding globally. Wolverine Worldwide CEO Blake Krueger noted during his firm's earnings call that international demand for performance sandals, hiking, light hiking, and multisport products was strong.
Thu, Jul. 30, 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%.
Tue, Jul. 21, 6:54 AM
- Wolverine World Wide (NYSE:WWW) reports revenue increased 4.9%, on a constant currency basis.
- Revenue break-up: Lifestyle: $253.4M (+4.1%); Performance: $223.3M (5.7%); Heritage: $127.4M (12.2%); Other: $26M (+5.3%).
- Gross margin rate fell 100 bps to 39.1%.
- Adjusted operating margin rate decreased 90 bps to 8.1%.
- FY2015 Guidance: Revenue: $2.82B to $2.85B (+2% to +3%); Diluted EPS: $1.39 to $1.46; Adjusted EPS: $1.53 to $1.60.
- Q2 results
Tue, Jul. 21, 6:36 AM
Mon, Jul. 20, 5:30 PM
Wed, Jul. 8, 4:34 PM
Fri, Jun. 26, 10:07 AM
- While Nike (NKE +4.5%) is doing yeoman-like work in supporting the Dow Jones Industrial Average, some other footwear/apparel stocks are ahead of market averages.
- The group is being viewed as being in the right consumer market following a strong report from the Beaverton company.
- Gainers: Iconix Brand Group (ICON +1.9%), Steven Madden (SHOO +1.8%), Under Armour (UA +0.6%), Hanesbrands (HBI +0.8%), Crocs (CROX +2.6%), Deckers Outdoor (DECK +1.2%), Skechers (SKX +0.4%), Wolverine Worldwide (WWW +1.5%), Caleres (CAL +2.2%), Genesco (GCO +2.3%), Shoe Carnival (SCVL +2.4%), Foot Locker (FL +2.4%).
- The S&P Retail ETF (XRT +0.8%) is feeling the support from the athletic apparel and shoe stocks.
- Previously: Nike beats by $0.15, beats on revenue (Jun. 25 2015)
- Previously: Global futures at Nike top expectations (Jun. 25 2015)
- Previously: Millennial demand underpins bright outlook for shoe stocks (Jun. 26 2015)
Mon, Jun. 1, 6:40 PM
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.
Tue, Apr. 28, 6:49 AM
- Wolverine World Wide (NYSE:WWW) reports sales rose 3.4% in Q1 on a constant currency basis.
- The mid single-digit pace of sales seen in the Heritage Groupwas higher than the low single-digit rate for the Lifestyle Group.
- Gross margin +60 bps to 41.4% on pricing gains.
- Guidance: The company expects revenue of $2.82B-$2.87B vs. $2.86B consensus and EPS of $1.53-$1.60 vs. $1.56 consensus.
- Previously: Wolverine World Wide beats by $0.03, misses on revenue
Tue, Apr. 28, 6:38 AM
Tue, Apr. 21, 4:33 PM
Mon, Mar. 30, 7:25 AM
WWW vs. ETF Alternatives
Wolverine World Wide Inc is a designer, manufacturer and marketer of casual footwear and apparel, performance outdoor and athletic footwear and apparel, children's footwear, industrial work boots and apparel, and uniform shoes and boots.
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