Steve Madden, Foot Locker & Express Among 5 Fastest Growing Retailers

Posted by Lauren Hand on Sep 17, 2015 9:30:00 AM
Lauren Hand

Forbes LogoThis week, Forbes released its list of this year's eight fastest growing retailers. Among the top five are three retailers who are getting it right in the world of mobile - Steve Madden, Foot Locker and Express.

Liyan Chen of Forbes writes:

Despite sluggish retail growth earlier this year, consumer spending is gradually picking up in part thanks to low gas prices.

To find the fastest-growing retailers leading this wave, we screened U.S. apparel and footwear companies with a market cap of at least $1 billion and ranked them based on average same-store sales growth in the first two quarters of 2015.

Shoe retailer Steve Madden tops our list with a stellar 15.1% of average same-store sales growth rate in the first half of 2015. “As the flared leg look becomes more mainstream over the next couple of years, Steve Madden will benefit disproportionately as customers adjust their shoe purchases to match the new looks,” wrote Canaccord Genuity’ analysts Camilo Lyon and Pallav Saini in a report. Steve Madden’s solid performance at its retail stores should lead to significant wholesale order growth for spring 2016, and a strong dollar is helping the chain to produce better-quality footwear in countries like Brazil and Italy, according to the note.

With an average 8.7% same-store sales growth in the first and second quarters, Foot Locker ranks fourth on our list. Edward Plank and Randal Konik at Jefferies say that the chain is “writing the book on execution.” “Strength across categories, banners and geographies bolster our confidence in the health of the industry backdrop and Foot Locker’s ability to capitalize on it,” the analysts wrote after it posted the biggest EPS upside surprise in 4 years. In particular, Foot Locker has posted 5 straight quarters of positive gains at Lady Foot Locker category, which has become a growth engine for the chain.

Apparel retailer Express has posted an impressive turnaround with 7% SSS growth in the first half of 2015, making to the No.5 spot on our list. Rebecca Duval at BlueFin Research says the company is bucking the trend of the retail sector, which suffered from lackluster economic conditions and deteriorating store traffic. “The renaissance in the casual line along with an already performing dressy category will drive business in the second half of the year,” she wrote. “Express is perfectly positioned to pick up market share especially with many of the other millennial brands like Loft and Abercrombie & Fitch having their own difficulties.”

Read the entire Forbes article here.

Topics: Retail Tech News, Mobile Retail Apps, Retail Industry Research, Omnichannel Retail

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