Wednesday, April 29, 2015

Goldman Sachs Reports the Decline of Sneaker Sales*~

Wall Street investment bank Goldman Sachs reports a dip in sneaker sales at Foot Locker and Finish Line as a result of a slowdown in sneaker collecting. Data collected by Campless, a company that tracks the sales of collectible sneakers on eBay, showed that sales of high-priced shoes declined in January for the first time since 2012. Josh Luber, founder of Campless, attributed the recent slowdown in sneaker collecting to a number of factors, including market saturation, a dip in the number of people who collect sneakers, and a weak slate of Jordan releases at higher price points. Goldman Sachs analysts also noted a cyclical fashion shift away from high-priced performance athletic footwear to casual athletic footwear.