US Footwear Segment Shows Continuous Growth (C, DKS, FL, BWS, CROX)

Total athletic footwear point-of-sales increased 6.7% y/y in April. It’s the 6th consecutively positive monthly data but the increase rate is down from March’s 21%. In its report tracking the U.S. footwear market, Citi C has stated that the stellar performance in March was helped by Easter sales. Further, according to store checks conducted by the bank, the amount of footwear products on sale was lower at Dick’s DKS and Foot Locker FL. Brown BWS and Crocs CROX have emerged as the strongest year-to-date performers with 91% and 68% stock price increases. The report has reiterated its “Buy” rating for Foot Locker (FL). The company is likely to maintain accelerated sales trends and strong margin rates.