Ugly is in: How Crocs have taken over teen footwear, and sent the stock soaring

“I would wear Crocs every day, and then people started laughing at me!” Crocs is the 13th most popular footwear brand among average-income female teenagers, according to Piper Jaffray’s spring survey. Crocs strikes a nostalgic note because many have worn the shoes as children, as Huang had with her “Dora” pair. A guest wears orange socks with Japanese prints, Fila white sneakers shoes, during London Fashion Week Men’s January 2018 in London, England. Last November, a pair that Crocs designed wit


“I would wear Crocs every day, and then people started laughing at me!” Crocs is the 13th most popular footwear brand among average-income female teenagers, according to Piper Jaffray’s spring survey. Crocs strikes a nostalgic note because many have worn the shoes as children, as Huang had with her “Dora” pair. A guest wears orange socks with Japanese prints, Fila white sneakers shoes, during London Fashion Week Men’s January 2018 in London, England. Last November, a pair that Crocs designed wit
Ugly is in: How Crocs have taken over teen footwear, and sent the stock soaring Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: jasmine wu
Keywords: news, cnbc, companies, taken, ugly, pair, company, soaring, stock, teen, shoes, sneakers, started, wear, popular, crocs, footwear, shoe, sent


Ugly is in: How Crocs have taken over teen footwear, and sent the stock soaring

A kid wears “Croc” shoes on the escalator. (Photo by Gerald Martineau/The Washington Post/Getty Images) Gerald Martineau | The Washington Post | Getty Images

Bibiane Huang has a pair of Crocs for every day of the week. The 16-year-old from San Francisco got her first pair when she was five, featuring a very cool “Dora the Explorer” print. But last year, she started searching for comfy shoes that she could easily wear before and after swimming practices, and found a pair of green hand-me-downs in Crocs’ classic clog style. “I would wear Crocs every day, and then people started laughing at me!” she recalled. “But then people started to notice me. And then everyone started wearing Crocs.” Now, Huang proudly owns seven pairs in a rainbow of colors, and is far from the exception. She estimates that more than half of the girls in her school also have a pair of what Time Magazine once called one of the “worst inventions. ” Crocs is the 13th most popular footwear brand among average-income female teenagers, according to Piper Jaffray’s spring survey. It grew from 30th in 2017, although last year it was ranked 12th. On Monday, the company’s stock was upgraded to overweight from neutral by the bank, citing “solid traffic during the summer season.” The analysts were also excited about Crocs’ collaboration with Vera Bradley, which sold out on both companies’ websites. They boosted Crocs’ price target to $27 from $22, sending shares up more than 6% in trading Monday to above $22. “It’s been a wonderful time for us,” said Terence Reilly, the company’s chief marketing officer, in an interview last week. “Teens are a big driver for our brand. They spend a lot, and youth culture drives culture.” Shares of Crocs are up 30% over the past year. In November, its stock jumped 15% after it reported third-quarter earnings that surpassed analysts’ expectations by 128%. The company has continued to beat expectations in the past two quarters, and is now valued at $1.6 billion. Although the stock is down 15% since January, that’s because “demand is so good that they can’t quite keep up with the supply,” said Sam Poser, an equity research analyst at Susquehanna. The company has been air freighting goods into the country in order to replenish fast-selling items, which cuts into their gross margins. “It’s a good problem to have, and they’re keeping people hungry for product,” he said. Teenagers agree that the shoe’s popularity shows no sign of stopping. But that doesn’t mean its reputation of being ugly has faded.

Ugly is in

Julianna, a 17-year-old from Teaneck, New Jersey who requested only her first name to be used, said that many of her friends are wearing Crocs precisely because they’re seen as ugly. “People want to wear it ’cause it’s gross. It’s like rebelling against whatever society thinks is wrong,” she said. “I always thought they were ugly, but then everyone started wearing them and it just became a trend. Everyone I know has at least one pair.” The company’s products have been poised to explode in popularity in part for this reason, according to Jocelyn Thornton, a senior vice president at The Doneger Group, which forecasts fashion trends. “Crocs hits the things that are important to consumers. The consumer is moving away from the conventional idea of beauty, and at the same time they’re definitely investing in products that are comfortable to the touch and comfortable to wear,” she said. “Right now, that generation of consumer does not feel beholden to a certain style standard that generations of the past have.” The shoes also allow teens to express their individuality with Jibbitz, or charms that they can attach to the top of the shoe, said Victoria, a 14-year-old from Warren, New Jersey, who also asked CNBC to withhold her last name. “People want to be quirky, and that’s turning into a trend,” she said. She estimates that one in every three girls in her grade own Crocs. “All of the popular people have them.” And the company feels no need to shy away from that reputation. “We know that we’re different and unique. Some might call it ugly,” Reilly said. “We embrace that polarization. It gets us attention.”

The 90s are back

Young consumers are also increasingly reaching to (or throwing back to) styles that they see as “retro.” Crocs strikes a nostalgic note because many have worn the shoes as children, as Huang had with her “Dora” pair. “For that teen Gen-Z consumer, in many cases, we were her first shoe. We came out in 2002, and she remembers us from her youth and what started as a wonderful nostalgic moment for her,” Reilly said. And it’s not the only company capitalizing on a booming 90s revival. Footwear brand Fila Korea has recently seen a resurgence in their Disruptor 2 sneakers, which first debuted in 1996. The chunky white sneaker has a sawtooth sole, and is reminiscent of the “dad” sneakers that were popular in the 90s. Fila’s sales increased 205% between 2016 and 2018, and the Disruptor 2 was named “Shoe of the Year” in 2018 by Footwear News.

A guest wears orange socks with Japanese prints, Fila white sneakers shoes, during London Fashion Week Men’s January 2018 in London, England. Edward Berthelot | Getty Images

“Young consumers really react to brands that have heritage and are authentic, and I think a lot of what we’re seeing is a result of that,” said Beth Goldstein, an analyst at NPD Group. Fanny packs, another staple of the 90s, are the largest growing category in the bag market this year, with sales up 50%, according to data from NPD. “If you look back, it was considered dorky and ugly,” Goldstein said. “It’s been very popular, and is continuing to grow.” Athletic companies such as Nike, Adidas, and Reebok have also all brought back styles from their 1990s collections. Many sneakers in the brands’ new releases are similar to Fila’s shoe and feature chunky silhouettes that evoke memories of backwards caps and neon windbreakers.

High-fashion collaborations

Though it may be hard to picture, many of these looks first gained traction on the runway. They were shown off in collections from luxury fashion brands, according to Thornton from The Doneger Group. “The ugly trend in footwear was really started and rooted in Balenciaga,” she said, whose version of dad sneakers sell for $900 or more a pop. “The kick-off for ugly becoming cool was the high end.” Recognizing it could make a high-fashion splash, Crocs and Balenciaga collaborated to design a collection of brightly colored clogs with 3-inch high platforms that clomped down a Paris runway last year.

Since then, the company has continued trying to expand its audience through collaborations. Last November, a pair that Crocs designed with rapper Post Malone sold out in 10 minutes. The company has also found partners in streetwear brands worshiped by young consumers, such as Alife and Chinatown Market. In June, Crocs announced a collaboration with Vera Bradley.

An Alife and Crocs collaboration. Source: Alife


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: jasmine wu
Keywords: news, cnbc, companies, taken, ugly, pair, company, soaring, stock, teen, shoes, sneakers, started, wear, popular, crocs, footwear, shoe, sent


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If you invested $1,000 in Nike 10 years ago, here’s how much you’d have now

Although Nike’s stock underperformed slightly this quarter, if you invested 10 years ago, that decision would have still paid off. CNBC: Nike stock as of June 28, 2019. Nike’s stock is up nearly 16% over the past year, bringing its market cap to about $130 billion. Though Nike’s stock has mostly performed well over the years, any individual stock can over- or underperform, and past returns do not predict future results. Sales in the China region surged 22% this quarter, though, and Nike CEO Mark


Although Nike’s stock underperformed slightly this quarter, if you invested 10 years ago, that decision would have still paid off. CNBC: Nike stock as of June 28, 2019. Nike’s stock is up nearly 16% over the past year, bringing its market cap to about $130 billion. Though Nike’s stock has mostly performed well over the years, any individual stock can over- or underperform, and past returns do not predict future results. Sales in the China region surged 22% this quarter, though, and Nike CEO Mark
If you invested $1,000 in Nike 10 years ago, here’s how much you’d have now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: shawn m carter
Keywords: news, cnbc, companies, heres, invested, footwear, ago, youd, stock, share, quarter, nikes, trade, strong, billion, 1000, tariffs, nike


If you invested $1,000 in Nike 10 years ago, here's how much you'd have now

Athletic apparel and footwear giant Nike reported fiscal fourth-quarter earnings Thursday and while shares were up more than 1%, its performance fell a bit short of analysts’ expectations.

Nike said its profit margins were hurt partly as a result of its efforts to sell directly to consumers and less through wholesalers, like Sports Authority, which recently filed for bankruptcy.

Its current share price is hovering around $83.

Although Nike’s stock underperformed slightly this quarter, if you invested 10 years ago, that decision would have still paid off. A $1,000 investment made on June 27, 2009, would be worth more than $7,400 as of June 28, 2019, for a total return of over 640%, according to CNBC calculations. Over the same period, the S&P 500 has returned 290%.

“Nike has been a very strong, fundamental, quality story, ” Joe Terranova of Virtus Investment Partners, said on CNBC’s “Halftime Report” last Friday. In fact, he said he’s surprised the company hasn’t been more impacted by the ongoing U.S.-China trade war.

CNBC: Nike stock as of June 28, 2019.

Nike’s stock is up nearly 16% over the past year, bringing its market cap to about $130 billion. Revenues for the brand jumped 10% from the same quarter last year and is now at $9.7 billion. And Nike sold more gear during this quarter than Wall Street expected.

Plus, the retailer, perhaps best known for its work with famous athletes like Serena Williams and Colin Kaepernick, is already the biggest sneaker maker in the United States and ranks No. 14 in Forbes’ list of the top 100 most-valuable brands in the world.

Though Nike’s stock has mostly performed well over the years, any individual stock can over- or underperform, and past returns do not predict future results.

The shoemaker has struggled to grow U.S. sales as rivals – including Adidas, Lululemon and smaller startups – have started to chip away at its market share. And some experts worry about how the trade dispute could impact Nike’s revenue.

More than 170 retailers – including Nike, Foot Locker, Ugg and Under Armour – penned a letter in May asking President Donald Trump to consider a halt on raising tariffs on Chinese-imported footwear. The Footwear Distributors and Retailers of America estimated the tariffs could cost shoe shoppers more than $7 billion a year.

Sales in the China region surged 22% this quarter, though, and Nike CEO Mark Parker said in a statement “the consumer sentiment around Nike in China has been quite strong.”


Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: shawn m carter
Keywords: news, cnbc, companies, heres, invested, footwear, ago, youd, stock, share, quarter, nikes, trade, strong, billion, 1000, tariffs, nike


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The cost of your shoes could jump thanks to the US-China trade war

The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes. Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff,


The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes. Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff,
The cost of your shoes could jump thanks to the US-China trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: lauren thomas
Keywords: news, cnbc, companies, war, footwear, billion, jump, shoes, increase, trade, thanks, tariff, cost, tariffs, 25, china, working, uschina


The cost of your shoes could jump thanks to the US-China trade war

The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China.

The White House on Monday released a fresh list of about $300 billion in Chinese goods that could get hit with 25% tariffs, if President Donald Trump decides to move forward with his threat. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes.

Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. And the American footwear industry is particularly dependent on China.

In 2017, China accounted for about 72% of all footwear imported into the U.S., according to the American Apparel and Footwear Association. The U.S. imported $11.4 billion worth of footwear from China last year, according to data from the U.S. Census Bureau.

“While brands have moved their production into other countries in Asia because labor costs are lower there, everybody is still making shoes in China,” said Matt Powell, a sports analyst for NPD Group. “The Chinese have years of expertise. They tend to be the best at making high-value product.”

Both Nike and Adidas — the top two sneaker makers in the U.S. by sales — have steadily been easing their reliance on China, shifting production to Vietnam instead. Both companies declined to comment when reached by CNBC.

Puma has said it’s working to do more of the same. But China still dominates when it comes to footwear manufacturing.

“For a lot of working families who buy shoes at Walmart, Target and these other retailers … a ton of volume runs through [China], ” said Matt Priest, the president and CEO of the Footwear Distributors and Retailers of America, a trade organization. The proposed tariffs on footwear “are concerning to say the least,” he said. “It’s every single type of shoe.”

FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff, could increase to $65.57. The price of a typical hunting boot would increase from $190 to $248.56. And a popular performance running shoe could jump from $150 to $206.25, FDRA said.

Ultimately, a 25% tariff on footwear could cost shoppers more than $7 billion each year, Priest said — what he called a “conservative” estimate.

— CNBC’s Jessica Golden contributed to this reporting.

WATCH: Cramer explains which businesses have the most exposure to the trade war


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: lauren thomas
Keywords: news, cnbc, companies, war, footwear, billion, jump, shoes, increase, trade, thanks, tariff, cost, tariffs, 25, china, working, uschina


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Under Armour earnings, sales top expectations. And the stock is swinging all over the place

Under Armour shares seesawed Tuesday after the sneaker maker reported better-than-expected fourth-quarter earnings and revenue, boosted by apparel sales and growth overseas. Under Armour earned 9 cents per share on an adjusted basis during the fourth quarter, topping analyst expectations of 4 cents per share, according to average estimates compiled by Refinitiv. Footwear sales were down 4 percent, as Under Armour said it sold fewer shoes in discount stores during the holiday period. Under Armour


Under Armour shares seesawed Tuesday after the sneaker maker reported better-than-expected fourth-quarter earnings and revenue, boosted by apparel sales and growth overseas. Under Armour earned 9 cents per share on an adjusted basis during the fourth quarter, topping analyst expectations of 4 cents per share, according to average estimates compiled by Refinitiv. Footwear sales were down 4 percent, as Under Armour said it sold fewer shoes in discount stores during the holiday period. Under Armour
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Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: lauren thomas, getty images
Keywords: news, cnbc, companies, place, sales, footwear, technical, armour, street, shares, quarter, analysts, stock, expectations, fourth, swinging, inventory, earnings


Under Armour earnings, sales top expectations. And the stock is swinging all over the place

Under Armour shares seesawed Tuesday after the sneaker maker reported better-than-expected fourth-quarter earnings and revenue, boosted by apparel sales and growth overseas.

The stock surged more than 5 percent in premarket trading before falling more than 3 percent and rebounding after the markets opened. Shares were last up more than 7 percent.

Wall Street likes Under Armour’s progress in slashing excess inventory — getting rid of items that didn’t sell well in stores and online — and generating excitement among shoppers around new product launches. But analysts and investors are still concerned about the retailer’s U.S. sales, which fell 2 percent in 2018 and still lag rivals Nike and Adidas.

“We worry the burden of proof lies on management to inflect its North America, direct-to-consumer and footwear trends,” Nomura Instinet analyst Simeon Siegel said.

Under Armour earned 9 cents per share on an adjusted basis during the fourth quarter, topping analyst expectations of 4 cents per share, according to average estimates compiled by Refinitiv.

Sales rose 1.5 percent to $1.39 billion, ahead of expectations for $1.38 billion.

Under Armour said U.S. sales fell 6 percent from the previous year to $965 million during the fourth quarter, while international sales climbed 28 percent, after adjusting for fluctuations in foreign exchange rates, to $395 million and now account for 28 percent of its total revenue.

It said apparel sales were up 2 percent, fueled by its training business. Footwear sales were down 4 percent, as Under Armour said it sold fewer shoes in discount stores during the holiday period. Accessories sales declined 2 percent.

The retailer didn’t make any changes to its outlook for 2019, which it originally laid out in December.

It’s still calling for sales to be “relatively flat” in North America this year; up 3 to 4 percent overall. Wall Street was largely disappointed when Under Armour first announced these targets. Analysts said at the time they imply the focus this year will still be on investing and that more meaningful growth won’t come until 2020 or later.

Under Armour has been grappling with how to grow U.S. sales amid a landscape flush with competition from Adidas, Nike and Lululemon. Part of its efforts to turn things around have included cutting staff, finding ways to trim excess inventory sitting in warehouses and promising a bigger focus on new sneakers and women’s items.

Under Armour said inventory levels dropped 12 percent during the fourth quarter to $1 billion.

On a call with analysts Tuesday morning, CEO Kevin Plank said the company plans to stay true to its “performance” gear, despite “athleisure” wear gaining more momentum in the U.S. of late. “We get athleisure … but we believe Under Armour is born on the field,” Plank said. “It’s technical in its nature.”

Some of the retailer’s best-selling footwear brands include Project Rock, Curry 6 and its Hovr sneakers. Under Armour also recently announced it’s going to be spaceflight company Virgin Galactic’s “technical spacewear partner,” making custom spacesuits and shoes for astronauts.

“We are building scarcity [with new products] on purpose, to make sure we are gaining traction versus pushing product in the marketplace,” President Patrik Frisk told CNBC.

Under Armour shares have climbed more than 50 percent over the past year.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: lauren thomas, getty images
Keywords: news, cnbc, companies, place, sales, footwear, technical, armour, street, shares, quarter, analysts, stock, expectations, fourth, swinging, inventory, earnings


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Amazon will dethrone Walmart as the No. 1 retailer of apparel this year, predicts Wells Fargo

1 seller of apparel in the U.S. in 2018, according to Wells Fargo, which raised its price target on the Seattle-based retailer Monday following new analysis into its clothing segment. The e-commerce behemoth’s apparel and footwear gross sales is expected to top $30 billion this year and leapfrog longtime incumbent Walmart for the top spot, wrote Wells Fargo analyst Ike Boruchow. But despite the already-impressive swell in stock price, Wells Fargo expects shares to top $2,300 in 12 months, more t


1 seller of apparel in the U.S. in 2018, according to Wells Fargo, which raised its price target on the Seattle-based retailer Monday following new analysis into its clothing segment. The e-commerce behemoth’s apparel and footwear gross sales is expected to top $30 billion this year and leapfrog longtime incumbent Walmart for the top spot, wrote Wells Fargo analyst Ike Boruchow. But despite the already-impressive swell in stock price, Wells Fargo expects shares to top $2,300 in 12 months, more t
Amazon will dethrone Walmart as the No. 1 retailer of apparel this year, predicts Wells Fargo Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: thomas franck, adam jeffery
Keywords: news, cnbc, companies, retailer, market, walmart, amazon, times, number, million, fargo, dethrone, predicts, shares, wells, footwear, earlier, apparel


Amazon will dethrone Walmart as the No. 1 retailer of apparel this year, predicts Wells Fargo

Amazon has another milestone in its sights. And this time, Walmart’s in the crosshairs.

The e-commerce giant will be the No. 1 seller of apparel in the U.S. in 2018, according to Wells Fargo, which raised its price target on the Seattle-based retailer Monday following new analysis into its clothing segment.

The e-commerce behemoth’s apparel and footwear gross sales is expected to top $30 billion this year and leapfrog longtime incumbent Walmart for the top spot, wrote Wells Fargo analyst Ike Boruchow.

“Amazon dominates the online market for apparel and footwear (35 percent of share, or four times the #2 player) and they even have remarkably high market share in the total apparel/footwear market in the U.S.,” he wrote in a note to clients.

“The gross merchandise value (GMV) of apparel and footwear that was sold on Amazon’s platforms approached $25 billion in 2017 — representing five times to six times the amount of softlines sold on the site just 5 years earlier,” he added.

With chief executive Jeff Bezos at the helm, Amazon shares have rallied more than 23 percent in the past six months and 101 percent over the past year, and even briefly topped $1 trillion in market value. But despite the already-impressive swell in stock price, Wells Fargo expects shares to top $2,300 in 12 months, more than 17 percent upside from Friday’s close.

Bezos’ zeal for exploring new sides of retail is also proving lucrative, with a growing number of shoppers starting to purchase everything from socks to cosmetics on the website.

While the company has found success in selling casual items for everyday wear such as socks and underwear, partnerships with popular brands such as Nike offer added popularity.

Morgan Stanley issued a similar warning to clothiers earlier this year, when it also projected Amazon’s ascent to the top apparel spot.

“Though some retailers believe that their space and product category is well-insulated from the Amazon threat, others are taking a ‘if you can’t beat ’em, join ’em’ perspective,” Boruchow said.

Amazon’s success also owes much to its ability to drive web traffic to its site, the analyst argued.

In the second quarter, the number of unique visitors to Amazon.com in the United States accelerated to 190 million, 75 percent of all web users. Further, the company disclosed earlier this year that it has more than 100 million paying Prime members.

Analysts at Citigroup, meanwhile, said in a note published Sunday that they expect the number of Prime subscribers to more than double to 275 million over the next decade.

Amazon shares fell 0.7 percent Monday.


Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: thomas franck, adam jeffery
Keywords: news, cnbc, companies, retailer, market, walmart, amazon, times, number, million, fargo, dethrone, predicts, shares, wells, footwear, earlier, apparel


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US industry leader on tariffs: ‘Prices will go up, sales will go down, jobs will be lost’

Trade war: Costs will be passed on to consumers sooner than later, CEO says 5 Hours Ago | 02:45U.S. tariffs on Chinese imports will simply mean that American consumers have to pay higher prices for products down the road, an industry association leader said on Friday. “We’re having some serious problems with this tariffs situation,” said Rick Helfenbein, president and CEO at the American Apparel and Footwear Association. “What’s going to happen down the road is very simple — prices will go up, s


Trade war: Costs will be passed on to consumers sooner than later, CEO says 5 Hours Ago | 02:45U.S. tariffs on Chinese imports will simply mean that American consumers have to pay higher prices for products down the road, an industry association leader said on Friday. “We’re having some serious problems with this tariffs situation,” said Rick Helfenbein, president and CEO at the American Apparel and Footwear Association. “What’s going to happen down the road is very simple — prices will go up, s
US industry leader on tariffs: ‘Prices will go up, sales will go down, jobs will be lost’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-24  Authors: huileng tan, stringer, afp, getty images
Keywords: news, cnbc, companies, lost, american, prices, products, sales, leader, apparel, imports, tariffs, jobs, worth, road, industry, footwear


US industry leader on tariffs: 'Prices will go up, sales will go down, jobs will be lost'

Trade war: Costs will be passed on to consumers sooner than later, CEO says 5 Hours Ago | 02:45

U.S. tariffs on Chinese imports will simply mean that American consumers have to pay higher prices for products down the road, an industry association leader said on Friday.

“We’re having some serious problems with this tariffs situation,” said Rick Helfenbein, president and CEO at the American Apparel and Footwear Association.

“This is disruptive to our supply chains, this is hurtful to our business,” he added.

Helfenbein was speaking on the back of a new round of U.S. tariffs on $16 billion worth of Chinese imports, which kicked in on Thursday, prompting Beijing to retaliate with its own levies on American goods worth the same amount.

“What’s going to happen down the road is very simple — prices will go up, sales will go down, jobs will be lost. This will have a negative impact on the economy,” Helfenbein told CNBC’s “Squawk Box.”

The apparel and footwear industry will be hard hit by the tariffs because 41 percent of all apparel, 72 percent of all footwear and 84 percent of all accessories imported into the U.S. come from China, said Helfenbein.

There are limited sourcing options as most products come from China, Vietnam, Bangladesh, India and Indonesia, he said.


Company: cnbc, Activity: cnbc, Date: 2018-08-24  Authors: huileng tan, stringer, afp, getty images
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Twitter gets in a tizzy over high-heels version of Crocs

Have Crocs, the people who brought the world its super-popular foam sandals in the early 2000s, jumped the shark? That’s what many in the Twitterverse think after the Colorado-based company introduced a high-heels version of their plastic footwear, which has seen a recent revival after going out of fashion about 10 years after their successful launch. As for the high-heeled style, there are, however, none of the round holes found in the conventional Crocs. We didn’t need to add high heel crocs t


Have Crocs, the people who brought the world its super-popular foam sandals in the early 2000s, jumped the shark? That’s what many in the Twitterverse think after the Colorado-based company introduced a high-heels version of their plastic footwear, which has seen a recent revival after going out of fashion about 10 years after their successful launch. As for the high-heeled style, there are, however, none of the round holes found in the conventional Crocs. We didn’t need to add high heel crocs t
Twitter gets in a tizzy over high-heels version of Crocs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: matthew diebel, source
Keywords: news, cnbc, companies, twitter, plastic, gets, shoes, user, highheels, footwear, version, going, heel, mansfield, crocs, tizzy, world


Twitter gets in a tizzy over high-heels version of Crocs

Have Crocs, the people who brought the world its super-popular foam sandals in the early 2000s, jumped the shark?

That’s what many in the Twitterverse think after the Colorado-based company introduced a high-heels version of their plastic footwear, which has seen a recent revival after going out of fashion about 10 years after their successful launch.

As for the high-heeled style, there are, however, none of the round holes found in the conventional Crocs. Instead, it features plastic straps highlighted by the Crocs logo. The 2-inch-high footwear comes in two colors, grey/platinum (with a pink insole) and black.

The elevated adaptation kicked off a spirited debate on social media, with most commentators stomping on the new shoes.

“There are so many sad things going on in the world right now. We didn’t need to add high heel crocs to the list,” said a Twitter user, StilettoNinja

Another Twitterer, Eloquent Delinquent, echoed the sentiment. “This is really a sign the end of the world is coming,” she said.

And there were many more slams for the plastic platforms:

A few tweets pointed out that Crocs have already produced shoes that add a couple of inches to a wearer’s height. However, these models are either wedges or do not have the semi-stiletto heel of the new version.

“I’ve had these for years,” said a user identified as Heather Hansen.

Meanwhile, a few came to the defense of the new shoes. A Twitter user called Finn used an blazing emoji to describe them as “hot.”

And user Megan Mansfield said she would be purchasing a pair.

And here’s the kicker: It seems that Mansfield is not alone – the shoes, called the Croc Women’s Cyprus V Heel and with a recommended price of $44.99, appear to have sold out, with resellers listing them at $224.75 on Amazon.


Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: matthew diebel, source
Keywords: news, cnbc, companies, twitter, plastic, gets, shoes, user, highheels, footwear, version, going, heel, mansfield, crocs, tizzy, world


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Sneaker sales are growing as sales of high heels tumble

That trend has become especially apparent in women’s sneaker sales, which have surged 37 percent throughout the U.S. in 2017. Meanwhile, sales of high heels have declined 11 percent during the same time period, according to the NPD Group’s Retail Tracking Service. The trend is twofold: Consumers want comfort, and there are more options across all shoe categories. “Brands that are focusing on comfort are doing better, because that something that women of all ages want,” she said. The sneaker tren


That trend has become especially apparent in women’s sneaker sales, which have surged 37 percent throughout the U.S. in 2017. Meanwhile, sales of high heels have declined 11 percent during the same time period, according to the NPD Group’s Retail Tracking Service. The trend is twofold: Consumers want comfort, and there are more options across all shoe categories. “Brands that are focusing on comfort are doing better, because that something that women of all ages want,” she said. The sneaker tren
Sneaker sales are growing as sales of high heels tumble Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-18  Authors: kellie ell, getty images
Keywords: news, cnbc, companies, goldstein, growing, women, fashion, womens, heels, high, sales, footwear, trend, sneaker, comfort, ugg, tumble


Sneaker sales are growing as sales of high heels tumble

As American fashion has slowly become more casual, so has footwear. That trend has become especially apparent in women’s sneaker sales, which have surged 37 percent throughout the U.S. in 2017. Meanwhile, sales of high heels have declined 11 percent during the same time period, according to the NPD Group’s Retail Tracking Service.

Brands like Nike, Adidas, Dr. Scholl’s, Roxy, Puma, Steve Madden and UGG, are just a few of the names that are getting the benefit of women slipping into more comfortable footwear. The trend is twofold: Consumers want comfort, and there are more options across all shoe categories.

“It’s becoming kind of a basic consumer need to have comfort and the desire to be comfort because everybody’s so busy and running around all the time,” Beth Goldstein, NPD’s executive director and industry analyst for fashion footwear and accessories, told CNBC.

“Brands that are focusing on comfort are doing better, because that something that women of all ages want,” she said. The sneaker trend will likely continue in the double digits for the next few years, Goldstein added, as it becomes more of a lifestyle choice.


Company: cnbc, Activity: cnbc, Date: 2018-05-18  Authors: kellie ell, getty images
Keywords: news, cnbc, companies, goldstein, growing, women, fashion, womens, heels, high, sales, footwear, trend, sneaker, comfort, ugg, tumble


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Nike’s vice president of footwear quits, the latest in a string of high-level executive departures this month

Nike’s vice president of footwear, Greg Thompson, has left the company, a company spokesman said on Wednesday, the latest in a string of executive departures at the sportswear maker. Nike’s vice president of diversity and inclusion, Antoine Andrews, left earlier this week. Trevor Edwards, president of Nike’s namesake brand, resigned last month, followed by the exit of another vice president, Jayme Martin. Nike, at the time of Edwards’ exit, said there had been “conduct inconsistent with Nike’s c


Nike’s vice president of footwear, Greg Thompson, has left the company, a company spokesman said on Wednesday, the latest in a string of executive departures at the sportswear maker. Nike’s vice president of diversity and inclusion, Antoine Andrews, left earlier this week. Trevor Edwards, president of Nike’s namesake brand, resigned last month, followed by the exit of another vice president, Jayme Martin. Nike, at the time of Edwards’ exit, said there had been “conduct inconsistent with Nike’s c
Nike’s vice president of footwear quits, the latest in a string of high-level executive departures this month Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-19  Authors: rich lam getty images
Keywords: news, cnbc, companies, left, vice, quits, exit, conduct, latest, values, highlevel, month, footwear, president, edwards, week, string, nikes, executive, company


Nike's vice president of footwear quits, the latest in a string of high-level executive departures this month

Nike’s vice president of footwear, Greg Thompson, has left the company, a company spokesman said on Wednesday, the latest in a string of executive departures at the sportswear maker.

Nike’s vice president of diversity and inclusion, Antoine Andrews, left earlier this week. Trevor Edwards, president of Nike’s namesake brand, resigned last month, followed by the exit of another vice president, Jayme Martin.

Nike, at the time of Edwards’ exit, said there had been “conduct inconsistent with Nike’s core values and against our code of conduct,” but added that there were no direct allegations of misconduct against Edwards. Edwards is continuing as an adviser to Nike CEO until he retires in August.


Company: cnbc, Activity: cnbc, Date: 2018-04-19  Authors: rich lam getty images
Keywords: news, cnbc, companies, left, vice, quits, exit, conduct, latest, values, highlevel, month, footwear, president, edwards, week, string, nikes, executive, company


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You’re already paying tariffs on clothing and shoes, and have been for almost 90 years

In fact, American consumers have been paying for tariffs on clothing and shoes since the 1930 Smoot-Hawley Tariff Act. Clothing, shoes, textiles and travel goods only make up 6 percent of everything the U.S. imports, but the group collectively generated more than half of the $34.5 billion in tariffs collected in 2017. Indonesia holds the third spot for footwear imports at more than 4 percent, according to an analysis of trade data by the AAFA. More than 41 percent of U.S. clothing imports are fr


In fact, American consumers have been paying for tariffs on clothing and shoes since the 1930 Smoot-Hawley Tariff Act. Clothing, shoes, textiles and travel goods only make up 6 percent of everything the U.S. imports, but the group collectively generated more than half of the $34.5 billion in tariffs collected in 2017. Indonesia holds the third spot for footwear imports at more than 4 percent, according to an analysis of trade data by the AAFA. More than 41 percent of U.S. clothing imports are fr
You’re already paying tariffs on clothing and shoes, and have been for almost 90 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-06  Authors: courtney reagan, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, consumers, shoes, imports, goods, china, tariffs, youre, clothing, tariff, billion, paying, footwear, 90


You're already paying tariffs on clothing and shoes, and have been for almost 90 years

Retail experts think consumers should be scared of tariffs.

“One hundred billion in further tariffs is beyond frightening,” says American Apparel & Footwear Association CEO Rick Helfenbein as the Trump administration is proposing an additional $100 billion in tariffs on products imported from China, beyond the $50 billion detailed earlier this week.

But tariffs aren’t new to retail.

In fact, American consumers have been paying for tariffs on clothing and shoes since the 1930 Smoot-Hawley Tariff Act.

The current average duty rate paid for all goods the U.S. imports is 1.4 percent, while the average tariff on travel goods and footwear is about 11 percent, according to the AAFA.

While apparel and footwear have not been specifically listed (yet) as targets of further tariffs, most that study trade say there are only so many categories the U.S. imports from China, making it almost inevitable these categories are next.

Especially considering 97 percent of all clothing and 98 percent of all footwear sold in the U.S. were made overseas.

Clothing, shoes, textiles and travel goods only make up 6 percent of everything the U.S. imports, but the group collectively generated more than half of the $34.5 billion in tariffs collected in 2017.

It’s true that shoe shipments from China to the U.S. have fallen to a 20-year low, but the U.S. still imports more footwear pairs from China than any other country, at nearly 73 percent. Vietnam is next at 16 percent, and imports from the nation have grown for 17 straight years. Indonesia holds the third spot for footwear imports at more than 4 percent, according to an analysis of trade data by the AAFA.

More than 41 percent of U.S. clothing imports are from China, followed by more than 12 percent from Vietnam, 7 percent from Bangladesh and 5 percent from Indonesia.

Footwear Distributors and Retailers of America CEO Matt Priest says there are 436 ways to classify shoes when it comes to the government’s tariff codes and based on construction materials of the upper and outer soles, footwear duties go as high as 67.5 percent.

Duties on clothing are also levied in a wide range, including pantyhose at 16 percent, certain knit tops and men’s coats at 28 percent.

Whether Americans realize it or not, Priest says consumers are currently paying for all of those tariffs.


Company: cnbc, Activity: cnbc, Date: 2018-04-06  Authors: courtney reagan, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, consumers, shoes, imports, goods, china, tariffs, youre, clothing, tariff, billion, paying, footwear, 90


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