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Investors are looking at credit card spending patterns to understand which retailers are likely to do well this summer. Shoppers are being more selective with their spending and are more likely to buy non-essential items like clothing and footwear, and less likely to buy electronics and homeware products.
This trend is reflected in the stock prices - Abercrombie & Fitch has seen its stock price nearly double this year, while Home Depot's stock is down. Retailers that are retailing on-trend product from popular brands are doing well. For example, Dick's Sporting Goods sales are up nearly 45% this year, in part because they are selling popular brands like Hoka and On. Nordstrom is highlighting Roger Federer-backed On sneakers, Sam Edelman sandals and Birkenstocks. Credit card data shows that spending on Vuori activewear, Skims underwear, Abercrombie & Fitch, Hoka and On shoes is up compared to last year. On the other hand, spending on Victoria's Secret, Under Armour and North Face is down.
Source: Reuters
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