Consumer spending may still be wishy washy, but recent surveys by the National Retail Federation and research firm NPD suggest apparel sales should be strong. That's especially the case with shoes: The NRF survey says the average person with school-age kids will spend $129 on shoes in the coming weeks. If those predictions hold up, Genesco (Ticker: GCO) could show fiscal Q2 numbers well above its execs' full-year same-store sales guidance of 3 to 4 percent.
NPD’s and the NRF’s findings coincide with comments we made in prior notes about strength in athletic (hoops and running), boat shoes, Americana styles, and boots. The key newness is color across all categories and the boot category strength in riding and boots with additional hardware.