Recent reports indicate that in the third week of September following Labor Day, retail performance took a dip; some attribute the decline in retails sales to warmer weather, as consumers aren’t quite ready to shell out cash for fall apparel while the warm weather lingers over the Northeast and Midwest.
According to Cowen & Co.’s retail team, the third week of September brought about a dive of almost 7 percent in retail traffic. However, the report claimed that September month-to-date remained healthy even though it was 3 percent down year-over-year vs. the declines in July and August. Cowen’s report expects that week four of September will still experience a slump in retail traffic, however despite volatility in the market, many of the biggest names in the footwear industry have posted sizeable gains.
Since mid-August, footwear sales have picked up at Famous Footwear, Shoe Carnival, and Foot Locker Inc., according to Sterne Agee CRT analyst, Sam Poser. This improvement can probably be attributed for the most part to back-to-school sales. At Brand Jordan, Under Armour, and Skechers, momentum also remained strong in the first weeks of September. Overall, for September back-to-school footwear, sales increased 4.8 percent, a slightly larger increase than that seen in August. Much of the increase can be attributed to the sale of casual athletic and running shoes.
As global leaders in the wholesale footwear distribution industry, we’re happy to see that shoes are selling well despite the delayed warm weather and slow slide into fall. For all of your wholesale shoe needs, count on The Jay Group Ltd. for the latest styles, below-wholesale cost, and quality in the brands you know and trust.