Issue link: https://viewer.e-digitaledition.com/i/1523608
Brands: Quarterly Change W hile more brands are intent on expanding their respective global reach and prowess as both performance and casual players, gains in the Brand Index in Q2 were bolstered by more stock price gainers and fewer decliners. irteen brands ended Q2 with a higher stock price, eight by double-digits, versus only eight entrants that ended Q1 with a stock price improvement. e sector's low-water mark came on April 15 when it hit an Index score of 100, its same mark as Jan. 2. Meanwhile, the high- water mark came on June 3 when the Index reached 120. e double-digit percentage stock price gainers were led by: Rocky Brands (+34.4%), Asics Corp. (+31.1%), Wolverine Worldwide (+29.3%), and Birkenstock (+28.3%). Puma, which realized a 23.3% stock price gain in Q2, is working to solidify its credibility in the performance segment. e company debuted its first brand campaign in more than a decade in April and is forecasting stronger sales growth in the back half of 2024. Skechers (+20.8%) too has been on a mission to li its performance image and average selling prices over recent quarters. Still eying $10 billion in annual global sales by 2026, the company will likely lean on its international business to accomplish that objective. In Q1, Skechers' international sales increased by 15% to account for 65% of its overall revenues with both EMEA and APAC each up by double-digits. On the downside, five brands suffered stock price drops over Q2 versus 10 in Q1. Lululemon (-18.9%) was the only double-digit decliner, marking its second consecutive quarter with a stock price drop (-24% in Q1). Going forward, the company will apparently lean on men's and international to fuel its sales growth trajectory. In Q3, Lululemon will test another TV ad campaign aimed at men. n BRAND INDEX: STILL TRENDING UP h115% Brands % Change per Quarter 04/01/24 • 06/024/24 Adidas* (ADDYY) h 5% $111.39-$117.42 Allbirds (BIRD) i -8% $0.64-$0.59 Asics Corp. (ASCCF)** h 31% $46.40 • $60.85 Birkenstock (BIRK) h 28% $46.59 • $59.78 Crocs (CROX) h 5% $145.75 • $152.59 Deckers (DECK) h 5% $930.50 • $978.08 Dr. Martens (DOCMF) h -3% $1.10-$1.07 Geox* (GEO.MI) h 6% $0.66-$0.70 Lululemon (LULU) i -19% $385.20 • $312.48 Mizuno* (8022.T) h 19% $41.80 • $49.80 Puma (PMMAF)** h 23% $46.06 • $56.80 Nike (NKE) h 5% $92.56 • $97.17 On (ONON) h 11% $35.22 • $39.03 Rocky Brands (RCKY) h 34% $27.41 • $36.84 Skechers (SKX) h 21% $61.32 • $74.07 Under Armour (UAA) i -3% $7.31 • $7.13 VF Corp. (VFC) i -4% $15.30 • $14.71 Wolverine (WWW) h 29% $10.79 • $13.95 TOTAL (equal to '100' on INDEX) h 115% $2,006.00 • $2,072.86 The Footwear Insight Index tracks 32 of the most important publicly traded companies that have a substantial footwear business (14 retailers, 18 brands). Index base of 100 is key to the closing prices of 1/02/24. QUARTER 2 ENDING 6/24/24 10 Footwear Insight Business Report Quarterly ~ Q2 July 8 2024 footwearinsight.com