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Sports apparel POS data suggests another sizable sequential improvement to up 13% y/y vs. last week’s reading of up 7% y/y. What’s interesting, however, is that this came at the expense of price point – which posted its first y/y decline since December 2008. This is just flat-out weird. I want to wait 2 more weeks before I start to make any conclusions (1 week is not a trend – 3 is), but if these numbers continue it will be inconsistent with the trends on inventory that the companies have been chirping to the Street on recent conference calls and ‘super duper secret 1-on 1s’.

Sports Apparel Retail: A Big But - 1

Sports Apparel Retail: A Big But - 2

Sports Apparel Retail: A Big But - 3

Sports Apparel Retail: A Big But - 4