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Furthermore, continually evolving sports and fashion trends and increasing demand for unique and superior quality footwear should drive the footwear market’s growth. Robust customer spending and continued online shopping trends could help the industry see decent growth. The global footwear market is expected to grow at a 2.6% CAGR to $213.3 billion by 2026.
Under Armour, Inc. (UAA), Skechers U.S.A., Inc. (SKX), and Steven Madden, Ltd. (SHOO) are three fundamentally sound stocks in the footwear industry that we think have the potential to capitalize on the industry tailwinds. So, it could be wise to bet on them now. Conversely, we believe investors should avoid NIKE, Inc. (NKE) because its current valuation is not justified by the company’s bleak financials.
