Shoe Prices Grew in March

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

Shoe prices and bankruptcies surged in March. Plus, Parker Boot Company launches a new made-to-order program.

Here's what you need to know.

Shoe Prices in March Grew at the Sharpest Rate in 16 Months — Driven By Men’s Increases

Shoe prices increased in March — in tandem with overall consumer retail prices — according to the latest data from the Footwear Distributors and Retailers of America (FDRA).

Footwear prices rose 1.5 percent year-over-year last month, marking the sharpest increase in sixteen months. The increase was driven by a 4.6 percent growth in men’s footwear prices — the biggest leap in 20 months — in March. Compared to the prior year, women’s footwear prices sank 1.9 percent and children’s footwear prices rose 0.8 percent.

The higher prices on men’s footwear comes as the pattern of declining shoe duties moderates, chief economist at FDRA Gary Raines told FN.

“While these duties paid have declined year-over-year for several months, the rate of decline has moderated over recent months, buoying these recently higher retail prices,” Raines said. “If duties on men’s footwear imports begin to expand again, men’s retail prices may climb even faster, costing consumers and crimping retailers’ and importers’ margins.”

Corporate Bankruptcies Surged in March: Here’s Where the Activity Was

Corporate bankruptcies ticked up in March, with companies in the consumer discretionary category leading the way.

59 U.S. companies filed for bankruptcy in March, according to data from S&P Global Market Intelligence. That’s up from a revised total of 48 filings in February. Year-to-date, corporate bankruptcies are still below 2023 levels but are higher than the comparable time periods in most of the last ten years.

Bankruptcies in the consumer discretionary sector — which includes footwear and apparel — came in at seven for the month, tying with healthcare for the most bankruptcies since the start of the year

When it comes to footwear-specific companies, bankruptcies were quiet in March, in line with a trend since the start of the year. In early April, however, the U.S. based entities of slip-resistant footwear company?Shoes for Crews filed voluntary petitions for?bankruptcy in an effort to undergo a sale of its business.

Parker Boot Company Launches Made-to-Order Service as Western Trend Continues to Gain Heat

Parker Boot Company is marking its 10th year in business with the launch of a new made-to-order program.

Up until now, customers were coming to the Houston, Texas-based shoe company for fully bespoke Western boots. Now, according to founder Zephan Parker, the brand’s footwear will be open to a wider audience looking to enter the luxury Western footwear market at a more accessible price.

And while the new made-to-order footwear range might not be considered accessible to some – with retail prices for the range sitting between $995 to $1,895 – Parker told FN in an interview that all of his company’s products are handmade by a team of 11 artisans based in Houston in what is considered to be one of the last remaining bespoke boot shops left in the business.

The made-to-order range includes two distinct silhouettes in an array of three colorways. First up, the Caldwell, which pays homage to Parker’s maternal lineage and the rugged cowboys of the Northwest. This boot boasting a choice between a Western box toe or round toe, a ten-inch top, and a resolute Western heel.

Need more shoe news?

• FCTRY LAb Launches First Women’s Shoe Style at Fred Segal
• Macy’s Settles With Arkhouse on Proxy Fight, but Takeover Possibility Still Looms
• Capri Stock Slump Highlights Worries Over Tapestry Deal
• Puma Wants Us to See Sport Through its Eye

Got a tip? Send us a confidential note here.

Want more? Sign up here to receive FN's daily newsletter directly in your inbox.