Ugly shoes are here to stay: Ugg, Crocs thriving as consumers turn to comfort [Yahoo! Finance]
Piper Sandler Companies (PIPR)
Last piper sandler companies earnings: 5/1 08:04 am
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Source: Yahoo! Finance
The continued casualization of footwear is driving once-stale brands into the spotlight as their businesses reap increasing sales. In a note to clients, Stifel analyst Jim Duffy highlighted a "shift in retro trend evidenced by the meteoric rise of New Balance's chunky dad shoes ... as well as explosive popularity of the [Adidas] Samba , plus the Campus and Gazelle. But, how did bulky "dad shoes" suddenly become a fashion staple? It's the rising appeal to wear something that "feels good on your feet," Duffy said to Yahoo Finance over the phone. "Particularly with younger consumers, you're seeing a lot of them embrace comfort and prioritize that over fashion, or even represented as fashion," said Duffy. The global comfort footwear market is expected to grow from $26.35 billion in 2023 to $47.37 billion in 2028. Now, top players like Nike and Adidas need to watch their backs for rising stars. The typical American only buys about seven pairs of shoes per year, per Duffy, and D
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PIPR
Earnings
- 4/29/24 - Beat
PIPR
Sec Filings
- 4/26/24 - Form 8-K
- 4/12/24 - Form DEFA14A
- 4/12/24 - Form DEFA14A
- PIPR's page on the SEC website