Footwear Insight - Business Report Quarterly

Brands: Quarterly Change S even companies in the Brand Index suffered a stock price decline in Q4. at compares to eight in Q3, five in Q2, and 10 in Q1. e low-water mark for the segment was Nov. 19. Nike, the segment's largest entrant in terms of revenues and market capitalization, and Allbirds, the smallest in terms of sales, both are regrouping. In the Swoosh's case, there is said to be a 'sense of urgency' under new CEO Elliott Hill to turnaround its fortunes with wholesalers and consumers asap. But don't look for any significant progress until the Fall/Holiday '25 season. Before that, look for short-term liquidations of excess inventory in less profitable sales channels and higher discounts to wholesalers to accomplish the same. At Allbirds, which suffered a 25 percent Q3 revenue decline partly due to retail store closures and ongoing transition of its international business to a distributor model, is promising to deliver its next generation of footwear styles to consumers around the world during the second half of 2025. On the upside, Deckers and On Holdings again led the way among stock price gainers with 30 percent and 13 percent stock price gains, respectively, in Q4. Deckers raised its FY sales and profit guidance in late October when reporting results for the period ended Sep. 30. e Hoka and UGG parent is now forecasting full-year sales growth of 12 percent to $4.8 billion with Hoka annual sales forecast to be up 24 percent year-over-year. At On, the Swiss company failed to meet its quarterly income projection due to currency impacts but had another blockbuster sales period, nonetheless. Revenues rose by 32 percent in Swiss francs to approximately $699.9 million with Asia-Pacific the largest regional sales gainers on a percentage basis. n BRAND INDEX: CHUGGING AND REGROUPING h6% Brands % Change per Quarter 09/30/24 • 12/23/24 Adidas* (ADDYY) i -8% $132.69 • $122.72 Allbirds (BIRD) i -39% $11.80 • $7.20 Asics Corp. (ASCCF)** h 7% $18.50 • $19.76 Birkenstock (BIRK) h 22% $49.29 • $59.93 Crocs (CROX) i -22% $144.81 • $113.27 Deckers (DECK) h 30% $159.45 • $207.65 Dr. Martens (DOCMF) h 30% $.76 • $.99 Lululemon (LULU) h 41% $271.35 • $383.49 Mizuno* (8022.T) i -6% $63.50 • $59.44 Puma (PMMAF)** h 8% $43.56 • 46.90 Nike (NKE) i -13% $88.40 • $76.76 On (ONON) h 13% $50.15 • $56.65 Rocky Brands (RCKY) i -29% $31.86 • $22.71 Skechers (SKX) h 1% $66.92 • $67.26 Under Armour (UAA) i -5% $8.91 • $8.43 VF Corp. (VFC) h 10% $19.95 • $22.03 Weyco Group, Inc. (WEYS) h 15% $32.06 • $37.00 Wolverine (WWW) h 31% $17.32 • $22.72 TOTAL (equal to '100' on INDEX) h 6% $1,211.28 • $1,334.91 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 4 ENDING 12/23/24 footwearinsight.com Q4 January 6, 2025 ~ Footwear Insight Business Report Quarterly 9

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