According to Wall Street Equity Research, footwear retailers were among the biggest gainers during a strong back to school sales season. According to one survey, the average family spent about $600 on clothes, shoes and school supplies for children in grades K-12. That number rose to about $615 for university students. Back to school sales totaled a little over $55 billion this season.
According to the data, everyday and athletic footwear were the top performers during the back to school season. Athletic footwear giants capitalized on above average sales for fall sports. Outdoor and hiking footwear were down slightly since last year. The drop in outdoor footwear sales is attributed to a trend amongst consumers to cut back unnecessary expenses. Youth and school sports are credited for strong sales of athletic footwear. Looking at the Footwear industry as a whole, two of the top performers in 2010 have undoubtedly been Crocs Inc. and Nike Inc. with Crocs going as far as one of the best retail performers this year.
The research is forecasting that above average fall earnings could sustain footwear retailers until the highly anticipated 2010 holiday season. In addition, retailers are optimistic that increased fall spending will translate to increased holiday spending as well.