The best performing shoe stock over the past six months may come as a surprise for many investors. While basketball shoes are seeing some weakness, it has become clear that retro is the style right now.
Puma's Pounce: Hottest Shoe Stock
Puma AG Rudolf Dassler Sport has been the best athletic shoe stock over the second half of 2016, up 17 percent in the past six months. By comparison, Under Armour Inc
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Return To Retro And Celeb Endorsements
Athletic shoe companies taking a fashionable approach has been paying off; Adidas has staged a comeback as a result, which could also be a reason why Under Armour has been struggling lately, as it is seen as more of a performance-wear brand.
It's no surprise that Puma’s women’s business has seen an uptick after key endorsements with female fashion influencers Rihanna and
Foot Locker saw strong gains in footwear by Puma, adidas and Nike in the quarter. Consumers are opting for more retro styles, as evidenced by Adidas Stan Smith, Puma Suedes and Clydes and Vans classics being the top casual styles at Foot Locker in Q3.
“Right now retro is all the rage”
“Classics continued to be a force to be reckoned with in athletic footwear, with sales for this category up about a third. Nearly every major brand posted an increase in this category. It’s hard not to be successful here. The retro trend will continue to be hot through the holidays, at the expense of performance footwear, and be the sales leader through the end of the year,” he added.
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