What's Going On With Footwear Stocks Today?
Portfolio Pulse from Erica Kollmann
Footwear stocks are trading higher following strong Q2 results from Skechers and Deckers. Skechers reported record sales and raised guidance, while Deckers saw a 22% revenue increase and 87% earnings growth. Other footwear stocks like On Holding, Birkenstock, and Crocs are also climbing.
July 26, 2024 | 5:41 pm
News sentiment analysis
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POSITIVE IMPACT
Birkenstock shares are up as investors react to strong Q2 results from Skechers and Deckers.
Positive market sentiment from peers' strong results is likely to have a favorable impact on Birkenstock's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Crocs shares are climbing ahead of its earnings report, influenced by strong results from Skechers and Deckers.
Anticipation of positive earnings, influenced by strong results from peers, is likely driving Crocs' stock price up.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Deckers reported better-than-expected Q2 results with a 22% revenue increase and 87% earnings growth.
Strong revenue and earnings growth are likely to positively impact Deckers' stock price in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
On Holding shares are climbing in response to strong growth and forward guidance from peers Skechers and Deckers.
Positive sentiment from strong results of peers is likely to boost On Holding's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Skechers reported record Q2 sales of $2.16 billion and raised its sales and earnings guidance above Street estimates.
Record sales and raised guidance are strong positive indicators for Skechers, likely driving the stock price up in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100