Piper Jaffray Attends MAGIC, PROJECT & PLATFORM Trade Shows in Las Vegas
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Piper Jaffray attended the MAGIC, PROJECT & PLATFORM trade shows in Las Vegas and walked product lines for CROX, DECK, GIII, SHOO, SQBG & VNCE. Denim received multiple positive mentions. Brands talked about denim as a category that is starting to rebound. Within footwear, athletic is still the best growing category and Adidas was cited frequently as a brand with on-going momentum.
Analyst Erinn Murphy commented, "We are framing up our key takeaways from the MAGIC, PROJECT & PLATFORM trade shows in Las Vegas where we walked Spring/Summer 2017 product lines for CROX, DECK, GIII, SHOO, SQBG & VNCE. While retail stocks have started to rally following a series of less-worse-than-feared results in the past few weeks, management teams are still taking a cautious view on the environment. Retailers are taking tight control on inventory as consumers shop more "buy now, wear now”, and as more traffic moves online. Order patterns are therefore harder to predict than in the past as less business is being booked up front. Brands that did comment on SS17 orders, indicated a pattern that was trending toward flat to down. From a fashion perspective, three consistent themes: 1) denim; 2) "casual chic" looks are trending; 3) sneaker growth continuing (Adidas strength noted) with breath of newness in dress shoes."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
- UPDATE: Oppenheimer Starts Shopify (SHOP) at Perform
- Jefferies Cuts Price Target on PG&E Corp. (PCG) to $65 Following Rate Case Decision
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesPiper Jaffray, Erinn Murphy
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!