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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (11948)	12/23/2023 11:32:52 AM
From: Elroy Jetson	Respond to of 13781

The thing about shoes is they wear out at a predictable rate and consumers in first world economies replace them at a stable rate. People don't walk less or more based on their income or their impression of the economy or wold events. - Shoe sales did decline during the Covid quarantines. Why were investors spooked by Nike? Nike's profit was up 21% over last year, even more on a per share basis because they've reduced the number of shares. Nike expected global revenues to increase on par with income, yet they increased by only 1% and they now expect them to continue to increase by only 1%, and investors don't like surprises. So investor's could fear is that some consumers are now preferring to buy sports shoes made by another brand like Puma perhaps, but Puma revenue declined by 1.8% and Adidas revenue declined in December by 6.8%. Christmas spending is up between 6% and 9% this year over prior years. But spending on clothing and accessories have increased by 21% - yet that huge increase in clothing sales is NOT going toward sport shoes - or any shoes. Dress shoe sales may never recover to pre-pandemic levels. > > > While clothing sales are up 21% this Christmas, shoe sales in America have been flat since 2017. < < < Nike bucked that trend for a while being the most popular brand and stealing market share from other sports shoes. But Nike profit continues to increase as they sell ever more costly "limited edition shoes". What could this possibly mean? Probably most Americans, like myself continue to opt for less casual shoes and less showy shoes. I now wear slip-on Merrills almost exclusively which are very comfortable and I don't wear shoes at home. I take new Merrills out of the box to weddings, and I have a number of partially worn Merrills. I buy them for about $50 on Amazon, so I can quickly verify I have bought 5 pairs of Merrills since 2016, and I bought no sport or dress shoes. One pair of shoes every 18 months - apparently that trend is now not unique among Americans. It doesn't mean anything to me, they're just shoes. Maybe spending only $50 on shoes every 18 months is why I have millions of Dollars.