For the moment, parents are taking a breather from hearing, “But mom, those are the cool sneakers right now, all my friends have a pair.”
Sales for high-dollar sneakers… are in the toilet!
CNN reports Foot Looker’s sales for expensive sneakers have fallen so much, that company stock just took a 25% hit.
In addition, Nike just took a 5% hit on it’s stock.
The names Jordan and James, simply aren’t propelling sales numbers.
Recently, stocks shares also fell for Dick’s, plus Under Armour and Adidas.
From a consumer standpoint, now is a the time to buy sneakers, because competition is fierce. Good news for back-to-school shopping parents. Take your time, look for sales, and reap the savings.