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Athletic footwear sales for April came in better than we expected up +8% against the toughest month of the quarter. This implies the Feb-Apr quarter was up a robust +12.5% yy - incrementally bullish for FL & FINL as well as DKS & HIBB (even since our DKS note out earlier). The solid start to the quarter as highlighted by both FL and FINL clearly materialized making for a very good start to the year. We are incrementally more positive on both FL and FINL here. The only brand callout that catches our eye is the continued share gain at UA, which reflects steady progress.

Athletic FW: Solid April     - Fw table

 

Athletic FW: Solid April     - FW market share

 

Athletic FW: Solid April     - Monthly FW 1 yr growth

 

Athletic FW: Solid April     - Monthly FW 2 yr

Casey Flavin

Director