Sports Apparel: End of Feb Callouts

Datapoints show that the month ended on a positive note, with Nike continuing to outperform meaningfully.

  • Recent trends continue to show improvement on the margin in dollar sales for each channel at the same time ASP has been drifting down
  • Sporting Goods retailers continue to buoy the industry, despite absolute sales growth slowing wk/wk
    • Very bullish for SSS in that space, which are released tomorrow
    • On the flip side, February was a very negative month for the Discount/Mass retailers channel (an incremental negative for TJX and ROST)
  • Outdoor Outerwear continues to showcase positive divergence vs. other categories, up 23% YTD y/y
    • As a percentage of the total sports apparel industry, it’s still well below normal levels, despite the wintry weather and record snowfall we’ve been seeing of late
  • NKE and VFC continue to outperform the industry
    • NKE, which is far and away the industry leader in Sports Apparel sales has been steadily gaining 300-400bp market share each week since December, and this week’s numbers are no different
    • VFC is another positive callout. While only 1/3 the share gain as Nike, it is equally as meaningful given the relative size of the brand and smaller market position. 
Sports Apparel: End of Feb Callouts - 1
Sports Apparel: End of Feb Callouts - 2
Sports Apparel: End of Feb Callouts - 3