4/22/2024 0 Comments Point gun at shoe stock photoHowever, a challenging retail landscape has muted Skechers' stock return this year, while Birkenstock's lockup expiration in early April has contributed to its share price struggles. Skechers CEO John Vandemore said at a recent conference that consumers' response to the shoes has been "very positive." Other names that have been riding this trend include Skechers and Birkenstock, which went public last October. (Fabian Strauch/picture alliance via Getty Images) (picture alliance via Getty Images) you've got a lot of upside potential in Crocs shares."Ĭrocs are displayed on shelves in an exhibition hall. If they can get HeyDude on the right track. "The only reason why it's as cheap as it is is because the HeyDude brand has been a little bit of a roller-coaster ride. "The stock itself is not overly expensive from a valuation perspective," he explained. ![]() The turnaround could take 18-plus months, according to Nikic. Meanwhile, HeyDude still needs to diversify its distribution and designs, with the brand currently offering only two models. The company's focus on innovation, comfort, value, and personalization remain key components of its position, said Nikic. "A lot of people who wouldn't have been caught dead wearing a pair of Crocs" gave them a try during the shutdowns and are now returning due to their comfortability and price point. In its fiscal fourth quarter report, the main Crocs brand surpassed $3 billion in sales, jumping 14% year over year. However, Deckers' stock could be getting too expensive after its rapid rise, warned Sole.Ĭrocs, which has seen its stock shoot up roughly 37% this year, still has runway left for growth, according to analysts.Ĭoncerns over its 2022 HeyDude acquisition have slowed Crocs' stock performance, with its shares dropping nearly 14% in 2023 before recovering this year. 10 favorite footwear brand among teenagers, while HeyDude clocked in at No. 3 for trends that could be "on the way out" with male teens. 6 brand in footwear "mainly due to the popularity of UGG." Crocs also ranked as No. In Piper Sandler's latest consumer survey with teens, Crocs fell from the No. "That more relaxed dress code applied to kids in school and kids going out in public as well," leading to that group "continuing to wear other slippers, Ugg, or Crocs," Duffy said. ![]() Remote workers who flocked to fuzzy slippers during the pandemic are deciding to stick with the style, even as life goes back to normal and they return to in-person work, UBS analyst Jay Sole told Yahoo Finance.ĭeckers has also grown beyond its furry boots roots, expanding to slip-ons and sneakers, reaching a "younger" and "more diverse consumer," said Powers.Īnd looser dress codes are becoming the norm everywhere, from offices to schools to malls. ![]() ![]() Both brands need to refocus on innovation and less on e-commerce sales, he added. these companies are coming for us, and they might be small today, but you blink your eyes, and they could be a lot bigger," Wedbush analyst Tom Nikic said over the phone. "The bigger brands like Adidas and Nike have realized. The typical American only buys about seven pairs of shoes per year, per Duffy, and Deckers Outdoor ( DECK), Crocs ( CROX), Birkenstock ( BIRK), and Skechers ( SKX) are racing to earn their place in shoppers' closets. Now, top players like Nike ( NKE) and Adidas ( ADDYY) need to watch their backs for rising stars. The global comfort footwear market is expected to grow from $26.35 billion in 2023 to $47.37 billion in 2028. "Particularly with younger consumers, you're seeing a lot of them embrace comfort and prioritize that over fashion, or even represented as fashion," said Duffy. It's the rising appeal to wear something that "feels good on your feet," Duffy said to Yahoo Finance over the phone. But, how did bulky "dad shoes" suddenly become a fashion staple?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |