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4 Takeaways From Citi's Back-To-School Shoe Survey

Footlocker Inc NYSE:FL, Nike, Inc. NYSE:NKE - 4 Takeaways From Citi's Back-To-School Shoe Survey

Citi’s 2016 Back-to-School Footwear Survey indicated the Athletic Specialty category outperforming the broader industry trends, analyst Kate McShane said in a report. She added that the survey results suggested a “slightly stronger BTS season y/y.”

4 Drivers Of BTS Season

The survey included 79 U.S. footwear retailers and focused on this year's back-to-school selling season.

McShane mentioned that the survey indicated the BTS season would likely be slightly stronger year-over-year, driven by:

  1. Multiple categories working, with growth in running, basketball, and casual athletic
  2. Footwear traffic outpacing broader U.S. mall trends, possibly driven by excitement around the Olympics
  3. A more positive view of customer spending, with a majority citing a y/y increase in spend

"Footwear promotions appeared roughly flat (58% of retailers) to higher y/y (34%), consistent with the broader inventory pressures," the analyst wrote.

She added that Foot Locker, Inc. FL 0.72% remained Citi’s top-pick in the footwear retail space, since the company seemed well positioned to “continue getting the top allocation of premium branded product & managing well through industry headwinds, with clean inventories & branded shop-in-shops.”

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DateFirmActionFromTo
Aug 2016B. RileyMaintainsBuy
Aug 2016CitigroupMaintainsBuy
Aug 2016SusquehannaMaintainsPositive

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