NPD's weekly footwear sales for the week ending this past Sunday were just released, and the numbers kept me in the 'mildly encouraged' camp as it relates to the state of sales out there right now. We're still running with dollar sales about flat on a 1 and 2-year trend, but average selling price is still up mid-single digits. Is Under Armour's (higher-priced) cross trainer launch helping these figures? My math says yes -- but by no more than 20-30 bps. My gut is still that inventories in this space have found a near-term bottom.
Let's see what Foot Locker and Hibbett say later today. Though their business still is pretty bad, I think they'll agree with my take on inventory trajectory.
As a sidenote, Under Armour's trainer numbers look good. Not great -- as price point eroded $2 over 2 weeks -- supporting my take that the $100 price point shoe is not catching on as well as the lower cut models). But the momentum at retail is certainly still healthy for UA.
1 and 2-year sales hart below courtesy of NPD Fashionworld.