{"id":12323,"date":"2023-05-22T20:56:07","date_gmt":"2023-05-23T00:56:07","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/want-a-pair-of-vans-more-than-half-of-the-shoes-are-being-sold-at-a-discount-analyst-says\/"},"modified":"2023-05-22T20:56:08","modified_gmt":"2023-05-23T00:56:08","slug":"want-a-pair-of-vans-more-than-half-of-the-shoes-are-being-sold-at-a-discount-analyst-says","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=12323","title":{"rendered":"Want a pair of Vans? More than half of the shoes are being sold at a discount, analyst says."},"content":{"rendered":"
\n

As sneaker companies weather a bout of subdued demand, at least one brand, Wedbush analysts say, seems to have suffered more than others: Vans.<\/p>\n

After looking at price-cutting activity across department stores, shoe stores, athletic-goods chains and other retailers, the analysts found that more than half of all Vans items were being sold at a discount, amid competition from more casual shoe offerings from Adidas AG and broader struggles from retailers like Foot Locker Inc.<\/p>\n

\n

\u201cThe markdown activity for Vans is also elevated when compared to other footwear names in our coverage,\u201d the analysts said in a research note on Monday. <\/p>\n

The only other brand they followed that had more of its shoes on sale was Steve Madden Ltd.
\n SHOO,
\n +0.55%<\/bg-quote>,<\/span>
\n which they noted sells in many department stores, where discounts are more common. <\/p>\n

The analysts published their assessment as Vans\u2019 parent company, VF Corp.
\n VFC,
\n +2.57%<\/bg-quote>,<\/span>
\n prepares to report fiscal fourth-quarter results on Tuesday. Those results, the analysts noted, will arrive as the retail landscape remains weak, with higher grocery prices pulling consumer spending away from clothing and accessories. Retailers over the past year have had to slash prices on anything that isn\u2019t food or a household necessity in order to stir up demand. <\/p>\n

Wedbush said that Vans, VF\u2019s biggest brand by sales, was the biggest source of pressure for the company, which also owns boot maker Timberland and outdoor-wear brand North Face. The analysts lowered their earnings-per-share estimates for VF\u2019s fiscal 2023 and 2024 and lowered their price target on the stock to $19 from $29.<\/p>\n

\u201cVans has been the biggest pressure point for [VF], and in recent weeks there\u2019s been some hope that the brand was on the verge of a turnaround (given some success with a new style called \u201cKnu School\u201d),\u201d the Wedbush analysts said. \u201cHowever, our checks continue to show elevated promotional\/markdown activity for the brand and lukewarm demand overall.\u201d<\/p>\n

The Wedbush analysts said Foot Locker\u2019s
\n FL,
\n -8.54%<\/bg-quote>
\n first-quarter results on Friday \u2014 which tanked the shoe retailer\u2019s stock \u2014 also represented bad news for Vans. On the chain\u2019s earnings call, Foot Locker management noted weaker spring-season demand for \u201ccanvas\u00a0and\u00a0skate-inspired\u201d offerings and said they have launched \u201caggressive\u201d discounts to attract shoppers. Vans, the Wedbush analysts said, was Foot Locker\u2019s largest canvas-and-skate brand. <\/p>\n

Franklin Bracken, Foot Locker\u2019s chief commercial officer, said that New Balance was still the chain\u2019s best-performing shoe. He also called out the success of some of Nike Inc.\u2019s signature basketball shoes \u2014 including those named after stars like Ja Morant, LeBron James and Luka Doncic. <\/p>\n

Bracken also said soccer-inspired shoes by Adidas AG
\n ADDYY,
\n +1.87%<\/bg-quote>
\n \u2014 like the Samba\u00a0and\u00a0Gazelle \u2014 \u201cwill be a key story for us at back-to-school and holiday this year.\u201d That momentum, the analysts said, \u201ccould continue to squeeze demand for Vans.\u201d <\/p>\n

The greater difficulty for Vans and VF comes as Adidas deals with its own bloated inventory issues. Adidas plans to sell off $1.2 billion worth of Yeezy shoes \u2014 the brand designed by rapper Kanye West, who goes by Ye \u2014 to raise money for charity, after West\u2019s anti-Semitic remarks led Adidas to terminate the partnership. <\/p>\n

Shares of VF Corp. were up 1.8% on Monday. The stock has fallen 58.2% over the past 12 months. By comparison, the S&P 500
\n SPX,
\n +0.02%<\/bg-quote>
\n is up 5.6% over that period. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As sneaker companies weather a bout of subdued demand, at least one brand, Wedbush analysts say, seems to have suffered more than others: Vans. After looking at price-cutting activity across department stores, shoe stores, athletic-goods chains and other retailers, the analysts found that more than half of all Vans items were being sold at a […]<\/p>\n","protected":false},"author":1,"featured_media":12324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-12323","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nWant a pair of Vans? 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