Zumiez Sees Footwear Cycle Returning in U.S.
After years of declining sneaker sales as athletic footwear dominated the mall, ZUMZ told the B. Riley investor conference that it has seen positive sneaker comps in recent quarters that it sees continuing, but it still believes there are legs on the branded apparel cycle that has driven its business in North America. It is seeing strong sales from heritage brands, supplemented by some key brands that have only limited distribution outside its stores. These key brands are now about 10% of sales. Private label, as a result, has declined to 17% of sales compared to 20% last year.
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