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April Channel Checks Into Footwear, Apparel, Accessories Show 'Slow Start To Spring'

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April channel checks of BB&T Capital Markets show that footwear, apparel and accessories had a "slow start to spring."

"While the East Coast and parts of the Midwest arc bracing for a cold start to April, the West Coast Is forecast to have above average temperatures and a continued high level of precipitation. Cooler temperatures should depress traffic and sales in the East, with shoppers likely forgoing their sandals purchases until a later date," analyst Corrina Freedman wrote in a note to clients.

Related Link: Barclays On Broadline/Hardline Retail: "It's About To Get A Lot Harder"

Freedman said: "During our recent channel checks, we continued to observe strong athletic footwear pricing across retail, likely driving ASPs higher, despite the reduction in new releases vs. LY. We also note emphasis on lace-up sandals at DSW (DSW Inc. (NYSE: DSW)), Steve Madden (Steven Madden, Ltd. (NASDAQ: SHOO)), and Macys (Macy's, Inc. (NYSE: M))). Meanwhile, at the Dick's Sporting Goods (Dicks Sporting Goods Inc (NYSE: DKS)) locations we visited, we note additional SKX styles."

Regarding weather trends as related to the sector, the analyst noted that east of the Mississippi is due for below average temperatures,while forecasts call for the West to be warmer than normal.

 

Related Articles (DKS + DSW)

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