Market Overview

4 Takeaways From Citi's Back-To-School Shoe Survey

Share:
4 Takeaways From Citi's Back-To-School Shoe Survey
Related FL
Benzinga's Option Alert Recap From September 20
Finish Line Downgraded Ahead Of Earnings
Related NKE
Nike's Eyes Bigger Than Its Stomach? Susquehanna Downgrades
Back-To-School Shopping Data Sings A Familiar Refrain: Adidas Is Up, Nike Is Down
Stocks Edge Higher With Dow Hitting Record High (GuruFocus)

Citi’s 2016 Back-to-School Footwear Survey indicated the Athletic Specialty category outperforming the broader industry trends, analyst Kate McShane said in a report. She added that the survey results suggested a “slightly stronger BTS season y/y.”

4 Drivers Of BTS Season

The survey included 79 U.S. footwear retailers and focused on this year's back-to-school selling season.

Related Link: Back-To-School Bigger Than Holiday Season For Some Retailers

McShane mentioned that the survey indicated the BTS season would likely be slightly stronger year-over-year, driven by:

  1. Multiple brand platforms working, including Nike Inc (NYSE: NKE) basketball & lifestyle, Adidas (OTC: ADDYY), Puma, and Vans
  2. Multiple categories working, with growth in running, basketball, and casual athletic
  3. Footwear traffic outpacing broader U.S. mall trends, possibly driven by excitement around the Olympics
  4. A more positive view of customer spending, with a majority citing a y/y increase in spend

"Footwear promotions appeared roughly flat (58% of retailers) to higher y/y (34%), consistent with the broader inventory pressures," the analyst wrote.

She added that Foot Locker, Inc. (NYSE: FL) remained Citi’s top-pick in the footwear retail space, since the company seemed well positioned to “continue getting the top allocation of premium branded product & managing well through industry headwinds, with clean inventories & branded shop-in-shops.”

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for FL

DateFirmActionFromTo
Aug 2017Morgan StanleyMaintainsOverweight
Aug 2017FBR CapitalMaintainsNeutral
Aug 2017Deutsche BankMaintainsHold

View More Analyst Ratings for FL
View the Latest Analyst Ratings

Posted-In: Citi Kate McShaneAnalyst Color Long Ideas Reiteration Analyst Ratings Trading Ideas Best of Benzinga

 

Related Articles (FL + ADDYY)

View Comments and Join the Discussion!
Loading...
Loading...