On CNBC's "Bull Session," The Sports Authority CEO Jack
Smith said, "Our footwear business all year has been very
strong. We've seen a little bit of a shift in the wants of
the consumer where basketball and the cross training have
now been taken over by the running and walking categories."
Jay Meltzer, LJR Redbook Research: "There is [a] shift away
from basketball. ... In addition, there is a neatness
movement afoot, and that means the return to the brown shoe
and the adventure shoes." TSA's Smith, on brown shoes: "Its
always been a category, but not something I'd say has taken
away from the athletic footwear business. ... It will never
take away from athletic footwear." Smith: "The NBA is
suffering a little bit, especially in licensed products,
we're not seeing that great impact." Smith, on why shoes,
including Reebok's Iverson model and Fila's Hill model,
aren't selling very well: "We don't get the same excitement
that we had when a new launch came out and people were lined
up around the corner to buy that shoe" (CNBC, 12/11).
MORE SHOE NEWS: On CNBC's "Business Center," Maria
Bartiromo: "The athletic footwear industry continues its
slump." She noted Reebok's earning report sent its stock
"down sharply, and it took stocks like Nike, Fila and
Converse down with it, and said, "Now investors are
wondering which company will be next to acknowledge such a
slowdown." CNBC's Garrett Glaser: "Reebok's troubles are
industry troubles. The entire category is softening, growth
is slowing, unsold inventory at retailers is higher than
it's been" (CNBC, 12/11). In L.A., Black & Co.'s Jennifer
Black Groves: "The next three months would be a great time
to be buying sneakers" (L.A. TIMES, 12/12).
