- Cowen analyst John Kernan is back from the 2018 Outdoor Retailer + Snow Show with some valuable insight on VF Corp's (VFC +0.1%) The North Face business and Skechers (SKX -1%).
- Kernan on The North Face: "We toured the Steep and Summit series lines which both looked impressive, with likely premium price points and, we think, are a return to TNF's DNA after recent periods where the offering was perhaps weighed down by too much inventory in the U.S. wholesale channel - particularly sporting goods. We also are encouraged by partnerships with Nordstrom (NYSE:JWN) and Trunk Club."
- Kernan on Skechers: "We think management is increasingly optimistic about the women's business globally, particularly in U.S. wholesale. Management previously issued guidance for domestic wholesale sales +mid-single-digits in Q4 and high-single-digits in Q1:18 and trends could be above those levels given the overall macro environment and favorable product cycle."
- VF Corp. is rated at Market Perform by Cowen, while Skechers is aligned at Outperform and called a "Best Idea" pick for 2018.
- Now read: VF Corporation: Way Overvalued
Original article