We think the high end is slowing, but if so someone forgot to tell the footwear space. Shoes $130 and above are running 40% ahead of last year. Great for FL and NKE.
We’ve been getting very mixed reads on the state of the high-end consumer. Tiffany looking good, some European Lux brands softening, and high hardgoods (watches, etc…) slowing meaningfully. But if there is, in fact, a slowdown, someone forgot to tell the footwear industry.
We’re seeing a clear bifurcation between high-end vs. lower end footwear. Simply put, the high end is crushing it. Out of all the price categories the strongest sales performance is $130 and above. While only 10% of the industry in aggregate, its data that we won’t ignore – especially when trending about 40% ahead of last year.
Check out charts below.