Consumer Discretionary Footwear Stocks Post Strong Q1, Led by Genesco and Deckers

Earnings

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Summary · why it matters

Consumer discretionary footwear stocks reported a strong first quarter, with the seven companies tracked beating revenue estimates by 1.7% on average. Nike, the largest in the group, posted flat revenues of $11.28 billion, in line with expectations, but its stock fell 14.5% since reporting. Genesco delivered the biggest analyst estimate beat, with revenues of $487 million up 2.8% year on year, though its stock dipped 2%. Deckers outperformed with revenues of $1.12 billion, up 9.6%, and issued the highest full-year guidance raise among peers, sending its stock up 5.8%. Caleres, the weakest performer, saw revenues rise 8.5% to $666.6 million but provided disappointing EPS guidance, and its stock dropped 7%. Wolverine Worldwide grew revenues 11% to $457.6 million and beat estimates, yet gave the weakest full-year guidance update, though its stock rose 13.2%. Overall, share prices of the group have been resilient, averaging a 5.1% gain since their latest earnings results.