Footwear Stocks Q3 Results: Benchmarking Wolverine Worldwide (NYSE:WWW)

Stock Story

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at footwear stocks, starting with Wolverine Worldwide .

Before the advent of the internet, styles changed, but consumers mainly bought shoes by visiting local brick-and-mortar shoe, department, and specialty stores. Today, not only do styles change more frequently as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some footwear companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 7 footwear stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 1.5% while next quarter’s revenue guidance was 7.9% above.

While some footwear stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.3% since the latest earnings results.

Wolverine Worldwide

Founded in 1883, Wolverine Worldwide is a global footwear company with a diverse portfolio of brands including Merrell, Hush Puppies, and Saucony.

Wolverine Worldwide reported revenues of $470.3 million, up 6.9% year on year. This print exceeded analysts’ expectations by 1.3%. Despite the top-line beat, it was still a mixed quarter for the company with a decent beat of analysts’ EBITDA estimates but full-year revenue guidance meeting analysts’ expectations.

"We delivered a solid quarter with Merrell, Saucony, and Sweaty Betty all exceeding expectations. Our disciplined execution, coupled with another record gross margin quarter, delivered better-than-anticipated earnings per share," said Chris Hufnagel, President and Chief Executive Officer of Wolverine Worldwide.

Wolverine Worldwide pulled off the highest full-year guidance raise of the whole group. Still, the market seems discontent with the results. The stock is down 2.6% since reporting and currently trades at $18.50.

Is now the time to buy Wolverine Worldwide? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Nike

Originally selling Japanese Onitsuka Tiger sneakers as Blue Ribbon Sports, Nike is a global titan in athletic footwear, apparel, equipment, and accessories.

Nike reported revenues of $11.72 billion, up 1.1% year on year, outperforming analysts’ expectations by 6.5%. The business had an incredible quarter with a solid beat of analysts’ constant currency revenue estimates and a beat of analysts’ EPS estimates.

Nike scored the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 2.6% since reporting. It currently trades at $67.94.

Is now the time to buy Nike? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Caleres

The owner of Dr. Scholl's, Caleres is a footwear company offering a range of styles.

Caleres reported revenues of $790.1 million, up 6.6% year on year, exceeding analysts’ expectations by 2.8%. Still, it was a disappointing quarter as it posted full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ adjusted operating income estimates.

The stock is flat since the results and currently trades at $13.53.

Read our full analysis of Caleres’s results here.

Crocs

Founded in 2002, Crocs sells casual footwear and is known for its iconic clog shoe.

Crocs reported revenues of $996.3 million, down 6.2% year on year. This result beat analysts’ expectations by 3.3%. Overall, it was an exceptional quarter as it also recorded a solid beat of analysts’ constant currency revenue estimates and EPS guidance for next quarter exceeding analysts’ expectations.

Crocs had the slowest revenue growth among its peers. The stock is up 3.8% since reporting and currently trades at $87.94.

Read our full, actionable report on Crocs here, it’s free for active Edge members.

Steven Madden

As seen in the infamous Wolf of Wall Street movie, Steven Madden is a fashion brand famous for its trendy and innovative footwear, appealing to a young and style-conscious audience.

Steven Madden reported revenues of $667.9 million, up 6.9% year on year. This print lagged analysts' expectations by 4%. Zooming out, it was actually a strong quarter as it logged EPS guidance for next quarter exceeding analysts’ expectations and revenue guidance for next quarter exceeding analysts’ expectations.

Steven Madden had the weakest performance against analyst estimates among its peers. The stock is up 37% since reporting and currently trades at $44.99.

Read our full, actionable report on Steven Madden here, it’s free for active Edge members.

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Add to Favorites

U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 1.34%

Investing.com

Investing.com – U.S. stocks were mixed after the close on Thursday, as gains in the Basic Materials, Financials and Industrials sectors led shares higher while losses in the Technology, Oil & Gas and Consumer Goods sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average gained 1.34% to hit a new all time high, while the S&P 500 index gained 0.21%, and the NASDAQ Composite index fell 0.26%.

The best performers of the session on the Dow Jones Industrial Average were Visa Inc Class A (NYSE:V), which rose 6.11% or 19.90 points to trade at 345.63 at the close. Meanwhile, Nike Inc (NYSE:NKE) added 2.96% or 1.95 points to end at 67.74 and Unitedhealth Group (NYSE:UNH) was up 2.57% or 8.44 points to 336.81 in late trade.

The worst performers of the session were Coca-Cola Co (NYSE:KO), which fell 1.57% or 1.10 points to trade at 69.11 at the close. NVIDIA Corporation (NASDAQ:NVDA) declined 1.55% or 2.85 points to end at 180.93 and Cisco Systems Inc (NASDAQ:CSCO) was down 1.22% or 0.98 points to 79.27.

The top performers on the S&P 500 were Royal Caribbean Cruises Ltd (NYSE:RCL) which rose 7.42% to 279.70, Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) which was up 6.81% to settle at 20.55 and Visa Inc Class A (NYSE:V) which gained 6.11% to close at 345.63.

The worst performers were Oracle Corporation (NYSE:ORCL) which was down 10.83% to 198.85 in late trade, Paramount Skydance Corp (NASDAQ:PSKY) which lost 4.08% to settle at 14.12 and International Flavors & Fragrances Inc (NYSE:IFF) which was down 3.28% to 63.25 at the close.

The top performers on the NASDAQ Composite were Agape ATP Corp (NASDAQ:ATPC) which rose 162.21% to 0.18, PetMed Express Inc (NASDAQ:PETS) which was up 68.36% to settle at 2.98 and Velo3D Inc (NASDAQ:VELO) which gained 55.58% to close at 13.38.

The worst performers were Oriental Culture Holding Ltd (NASDAQ:OCG) which was down 89.16% to 0.94 in late trade, Rezolute Inc (NASDAQ:RZLT) which lost 87.25% to settle at 1.39 and C3is Inc (NASDAQ:CISS) which was down 80.81% to 0.33 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1809 to 952 and 85 ended unchanged; on the Nasdaq Stock Exchange, 1837 rose and 1526 declined, while 175 ended unchanged.

Shares in Oriental Culture Holding Ltd (NASDAQ:OCG) fell to all time lows; down 89.16% or 7.76 to 0.94. Shares in Rezolute Inc (NASDAQ:RZLT) fell to 52-week lows; losing 87.25% or 9.55 to 1.39. Shares in C3is Inc (NASDAQ:CISS) fell to all time lows; down 80.81% or 1.39 to 0.33.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 5.20% to 14.95 a new 1-month low.

Gold Futures for February delivery was up 1.94% or 82.10 to $4,306.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.99% or 0.58 to hit $57.88 a barrel, while the February Brent oil contract fell 1.06% or 0.66 to trade at $61.55 a barrel.

EUR/USD was unchanged 0.38% to 1.17, while USD/JPY fell 0.21% to 155.58.

The US Dollar Index Futures was down 0.45% at 97.98.

Risk Warnings and Disclaimers

Add to Favorites

Dj Dir Reed Sells 2712 Of Steven Madden Ltd >Shoo

Reuters

Steven Madden

-1.87%

Risk Warnings and Disclaimers

Add to Favorites

Dj Dir Reed Registers 2712 Of Steven Madden Ltd >Shoo

Reuters

Steven Madden

-1.87%

Risk Warnings and Disclaimers

Add to Favorites

Dj Nike Seen Re-Engaging With Value-Conscious Consumers - Market Talk

Reuters

Risk Warnings and Disclaimers

Add to Favorites

Winners And Losers Of Q3: Genesco (NYSE:GCO) Vs The Rest Of The Footwear Stocks

Stock Story

Let’s dig into the relative performance of Genesco and its peers as we unravel the now-completed Q3 footwear earnings season.

The 7 footwear stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 1.5% while next quarter’s revenue guidance was 7.9% above.

While some footwear stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.4% since the latest earnings results.

Genesco

Spanning a broad range of styles, brands, and prices, Genesco sells footwear, apparel, and accessories through multiple brands and banners.

Genesco reported revenues of $616.2 million, up 3.3% year on year. This print was in line with analysts’ expectations, but overall, it was a softer quarter for the company with full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.

Mimi E. Vaughn, Genesco's Board Chair, President and Chief Executive Officer, said, “We delivered another quarter of top and bottom-line growth, marking our fifth consecutive quarter of positive comparable sales increases. The third quarter demonstrated the power of our strategic initiatives, with Journeys delivering strong double-digit comp growth during back-to-school on top of double-digit growth last year. This performance reinforces that when consumers shop for footwear, they are increasingly choosing Journeys, underscoring the momentum of our product elevation and diversification strategy as we continue to gain market share and establish ourselves as the destination for the style-led teen.”

Unsurprisingly, the stock is down 31.7% since reporting and currently trades at $24.01.

Read our full report on Genesco here, it’s free for active Edge members.

Best Q3: Nike

Originally selling Japanese Onitsuka Tiger sneakers as Blue Ribbon Sports, Nike is a global titan in athletic footwear, apparel, equipment, and accessories.

Nike reported revenues of $11.72 billion, up 1.1% year on year, outperforming analysts’ expectations by 6.5%. The business had an incredible quarter with an impressive beat of analysts’ constant currency revenue estimates and a beat of analysts’ EPS estimates.

Nike delivered the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 5.6% since reporting. It currently trades at $65.84.

Is now the time to buy Nike? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Caleres

The owner of Dr. Scholl's, Caleres is a footwear company offering a range of styles.

As expected, the stock is down 2.9% since the results and currently trades at $13.12.

Read our full analysis of Caleres’s results here.

Crocs

Founded in 2002, Crocs sells casual footwear and is known for its iconic clog shoe.

Crocs reported revenues of $996.3 million, down 6.2% year on year. This number topped analysts’ expectations by 3.3%. It was an exceptional quarter as it also logged an impressive beat of analysts’ constant currency revenue estimates and EPS guidance for next quarter exceeding analysts’ expectations.

Crocs had the slowest revenue growth among its peers. The stock is up 2.4% since reporting and currently trades at $86.75.

Read our full, actionable report on Crocs here, it’s free for active Edge members.

Steven Madden

As seen in the infamous Wolf of Wall Street movie, Steven Madden is a fashion brand famous for its trendy and innovative footwear, appealing to a young and style-conscious audience.

Steven Madden reported revenues of $667.9 million, up 6.9% year on year. This result missed analysts’ expectations by 4%. Zooming out, it was actually a strong quarter as it produced EPS guidance for next quarter exceeding analysts’ expectations and revenue guidance for next quarter exceeding analysts’ expectations.

Steven Madden had the weakest performance against analyst estimates among its peers. The stock is up 33.2% since reporting and currently trades at $43.73.

Read our full, actionable report on Steven Madden here, it’s free for active Edge members.

Risk Warnings and Disclaimers

Add to Favorites

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.05%

Investing.com

Advanced Micro Devices

Investing.com – U.S. stocks were higher after the close on Wednesday, as gains in the Industrials, Basic Materials and Healthcare sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average gained 1.05%, while the S&P 500 index climbed 0.68%, and the NASDAQ Composite index climbed 0.33%.

The best performers of the session on the Dow Jones Industrial Average were Nike Inc (NYSE:NKE), which rose 3.91% or 2.48 points to trade at 65.81 at the close. Meanwhile, Caterpillar Inc (NYSE:CAT) added 3.53% or 20.99 points to end at 615.35 and Johnson & Johnson (NYSE:JNJ) was up 3.29% or 6.58 points to 206.54 in late trade.

The worst performers of the session were Microsoft Corporation (NASDAQ:MSFT), which fell 2.78% or 13.70 points to trade at 478.56 at the close. Walmart Inc (NASDAQ:WMT) declined 1.66% or 1.91 points to end at 113.15 and Boeing Co (NYSE:BA) was down 0.82% or 1.65 points to 198.72.

The top performers on the S&P 500 were GE Vernova LLC (NYSE:GEV) which rose 15.59% to 722.77, Celanese Corporation (NYSE:CE) which was up 7.60% to settle at 43.26 and Western Digital Corporation (NASDAQ:WDC) which gained 7.32% to close at 181.95.

The worst performers were Uber Technologies Inc (NYSE:UBER) which was down 5.51% to 84.16 in late trade, Netflix Inc (NASDAQ:NFLX) which lost 4.15% to settle at 92.69 and HCA Holdings Inc (NYSE:HCA) which was down 4.05% to 468.73 at the close.

The top performers on the NASDAQ Composite were Beasley Broadcast Group Inc (NASDAQ:BBGI) which rose 302.17% to 16.69, Heartbeam Inc (NASDAQ:BEAT) which was up 94.29% to settle at 1.57 and Enveric Biosciences Inc (NASDAQ:ENVB) which gained 73.31% to close at 10.26.

The worst performers were Work Medical Technology Group Ltd (NASDAQ:WOK) which was down 96.59% to 0.19 in late trade, Agape ATP Corp (NASDAQ:ATPC) which lost 94.85% to settle at 0.07 and PomDoctor Ltd ADR (NASDAQ:POM) which was down 90.77% to 0.50 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1925 to 821 and 91 ended unchanged; on the Nasdaq Stock Exchange, 2119 rose and 1266 declined, while 167 ended unchanged.

Shares in GE Vernova LLC (NYSE:GEV) rose to all time highs; rising 15.59% or 97.47 to 722.77. Shares in Western Digital Corporation (NASDAQ:WDC) rose to all time highs; rising 7.32% or 12.41 to 181.95. Shares in Caterpillar Inc (NYSE:CAT) rose to all time highs; rising 3.53% or 20.99 to 615.35. Shares in Beasley Broadcast Group Inc (NASDAQ:BBGI) rose to 52-week highs; up 302.17% or 12.54 to 16.69. Shares in Work Medical Technology Group Ltd (NASDAQ:WOK) fell to all time lows; down 96.59% or 5.38 to 0.19. Shares in Agape ATP Corp (NASDAQ:ATPC) fell to all time lows; falling 94.85% or 1.25 to 0.07. Shares in PomDoctor Ltd ADR (NASDAQ:POM) fell to all time lows; losing 90.77% or 4.92 to 0.50.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 6.85% to 15.77.

Gold Futures for February delivery was up 0.49% or 20.75 to $4,256.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 1.17% or 0.68 to hit $58.93 a barrel, while the February Brent oil contract rose 1.11% or 0.69 to trade at $62.63 a barrel.

EUR/USD was up 0.58% to 1.17, while USD/JPY fell 0.47% to 156.04.

The US Dollar Index Futures was down 0.56% at 98.64.

Risk Warnings and Disclaimers

Add to Favorites