Black Friday Strong for (FL) (FINL) (SHOO) and (DSW); Not So Hot for (DECK)
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Price: $21.93 --0%
Rating Summary:
16 Buy, 21 Hold, 4 Sell
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Today's Overall Ratings:
Up: 11 | Down: 14 | New: 3
Rating Summary:
16 Buy, 21 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 3
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Analyst at Canaccord Genuity noted a busy but not frantic Black Friday as footwear fares relatively well.
"While Black Friday sales by some retailers began well before Friday, consumers still braved the crowds the day after Thanksgiving, yet in a manner that was less frenetic than in years past," analyst Camilo Lyon notes. "At the malls we visited (Roosevelt Field in NY and Garden State Plaza in NJ) the extensive use of iPhones made the shopping scavenger hunt seem a bit better synchronized, perhaps explaining the lack of trampling-related injuries we saw. That's not to say that the clear focus of shoppers was not still on finding the best discounts, of which there were plenty."
The analyst said Foot Locker (NYSE: FL), Finish Line (Nasdaq: FINL), Steven Madden (Nasdaq: SHOO), and DSW Inc. (DSW) were standout winners in footwear on Black Friday. "As for our footwear companies under coverage, we believe athletic specialty saw strong demand driven by the Jordan retro IV launch, while in the fashion footwear category, SHOO was a standout winner with its on-trend fashion. DSW also appeared busy with customers split between the women's boot section and the clearance section. Boot demand appears to be picking up with seasonal temperatures dropping."
Notably subdued were sales of Deckers Outdoor (NASDAQ: DECK) UGGs at various retailers, the firm noted. "During our checks at Nordstrom, we saw moderate,
not overwhelming, interest in the brand." the note. "Long gone are the days in which consumers are buying multiple pairs of UGGs as the brand has turned from fashion to utilitarian."
"While Black Friday sales by some retailers began well before Friday, consumers still braved the crowds the day after Thanksgiving, yet in a manner that was less frenetic than in years past," analyst Camilo Lyon notes. "At the malls we visited (Roosevelt Field in NY and Garden State Plaza in NJ) the extensive use of iPhones made the shopping scavenger hunt seem a bit better synchronized, perhaps explaining the lack of trampling-related injuries we saw. That's not to say that the clear focus of shoppers was not still on finding the best discounts, of which there were plenty."
The analyst said Foot Locker (NYSE: FL), Finish Line (Nasdaq: FINL), Steven Madden (Nasdaq: SHOO), and DSW Inc. (DSW) were standout winners in footwear on Black Friday. "As for our footwear companies under coverage, we believe athletic specialty saw strong demand driven by the Jordan retro IV launch, while in the fashion footwear category, SHOO was a standout winner with its on-trend fashion. DSW also appeared busy with customers split between the women's boot section and the clearance section. Boot demand appears to be picking up with seasonal temperatures dropping."
Notably subdued were sales of Deckers Outdoor (NASDAQ: DECK) UGGs at various retailers, the firm noted. "During our checks at Nordstrom, we saw moderate,
not overwhelming, interest in the brand." the note. "Long gone are the days in which consumers are buying multiple pairs of UGGs as the brand has turned from fashion to utilitarian."
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