Issue link: https://viewer.e-digitaledition.com/i/1527579
Retail: Quarterly Change E leven of 14 entrants posted gains in the period, led by Sportsman's Warehouse (+33.6%), Boot Barn (+26.3%) and Academy (+20.1%) on a percentage basis, enabling the Retail Index to improve for a second consecutive quarter. e sector hit its low-water mark on Aug. 5. ree retailers experienced a stock price drop over the 13 weeks ended Sep. 23. Big 5 (-23.3%), which suffered an 8 percent drop in footwear and 9 percent decline in apparel sales during Q2, blamed its so sales environment on macroeconomic challenges impacting its customers. Macy's (-16.0%), which told investors that it's pulling back aggressively on strategies that are not working, will hire 17 percent fewer holiday staffers this year. In its footwear departments, the department store chain is working on better presentations of Birkenstock, Nike, and Adidas offerings and adding staffing to its women's areas. Designer Brands, whose stock price remained flat over the period, slashed its full-year sales and guidance in mid-September when the DSW parent reported worse-than-forecasted Q2 results. e retailer's strengthening athleisure business was unable to offset sales weakness in dress and seasonal footwear. Among the 11 retailer's whose stock prices increased in Q2, the gainers were led by JD Group (+36.2%), Sportsman's Warehouse (+33.6%), Boot Barn (+26.3%), and Foot Locker (+18.2%). JD completed its acquisition of Hibbett Sports during the period and its stock price increase benefitted from a stronger British pound. Foot Locker, which is relocating its corporate offices to Florida from New York City in 2025, generated a 2.6 percent comparable sales increase and a higher gross margin in Q2. But FL, like others in this segment, faces a shorter holiday season window in Q4 due to a late anksgiving and Black Friday (Nov. 28-29). n RETAIL INDEX: TAKING STEPS FORWARD AGAIN h123% Retailers % Change per Quarter 07/01/24 • 09/23/24 Academy (ASO) h 20% $50.66 • $60.86 Big 5 SG (BGFV) i -23% $2.79 • $2.14 Boot Barn (BOOT) h 26% $130.13 • $164.35 Caleres (CAL) i -1% $32.56 • $32.20 Designer Brands (DBI) 0% $6.69 • $6.69 Dick's SG (DKS) h 6% $202.39 • $215.28 Foot Locker (FL) h 18% $23.12 • $27.33 Genesco (GCO) h 9% $24.34 • $26.58 Macy's (M) i 16% $18.03 • $15.15 JD Group* (JD.L) h 36% $151.25 • $206.05 Nordstrom (JWN) h 8% $21.25 • $23.00 Shoe Carnival (SCVL) h 23% $36.33 • $44.68 Sportsman's Warehouse (SPWH) h 34% $2.23 • $2.98 Zumiez (ZUMZ) h 18% $18.73 • $22.17 TOTAL (equal to '100' on INDEX) h 18% $720.50 • $849.46 QUARTER 3 ENDING 9/23/24 8 Footwear Insight Business Report Quarterly ~ Q3 October 7 2024 footwearinsight.com 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.