Third Quarter U.S. Footwear Sales Were Flat at $10.8 Billion
The fashion footwear business in the U.S. increased by 7 percent year-over-year in the third quarter to an estimated $3.5 billion, but the leisure footwear segment was flat at $5.2 billion, and the performance business declined 6 percent to $2.1 billion for the three months ended Sep. 30. The result was a flat overall U.S. footwear business, according to The NPD Group.
Fashion shoes and sales were the top growth categories during the period, the research group said, with the fashion business returning to pre-pandemic levels as people returned to in-person activities and events and replenished their closet with dressy and casual styles.
While athletic footwear sales remained above pre-pandemic levels, NPD said inflation and recession fears are creating “shaky ground” for the sector, which is expected to be highly promotional during the holiday season to drive sales and clear excess merchandise.