Women’s Wear Daily
04.24.2014
business
business

Footwear Stocks Up Modestly Post-Sandy

On a light trading day, the industry beats major market indices.

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On the first trading day after Hurricane Sandy barreled across the northeast U.S., footwear stocks ended the session up modestly.

As efforts continued on Wednesday to restore lost electricity to Wall Street — and the rest of downtown Manhattan — a basket of 25 industry stocks tracked by Footwear News had a roller-coaster ride before finally edging 0.2 percent higher.

In comparison, the S&P 500 index inched up 0.02 percent, to 1,412.16 points, while the Dow Jones Industrial Average was off 0.08 percent, to 13,096.54 points.

There were 14 winners and nine losers among the footwear firms. One company, Big Five Sporting Goods Inc., was flat.

The biggest gainer was Skechers USA Inc., which advanced 2.9 percent to $16.60. DSW Inc. and Steven Madden Ltd. were second and third, climbing 2.1 percent and 1.6 percent, to $62.59 and $42.92, respectively.
 
Deckers Outdoor Corp. lost the most ground, slipping 2.9 percent to $28.63. Weyco Group Inc. fell 1.7 percent to $23.48, while Crocs Inc. slid 1 percent to $12.60.

The New York Stock Exchange had been closed Monday and Tuesday this week, due to the super storm that has now left certain areas of New York and New Jersey waterlogged and without power, and without a majority of its transit systems. Media reports said technicians from Verizon were on hand at the exchange to patch spotty communications and network connections, while many trading firms resorted to sharing working Internet and phone lines.

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