Our view: The beauty category has remained resilient despite consumers pulling back spend in nearly all discretionary categories.
1 beauty destination for Gen Z consumers and held the strongest beauty loyalty membership, with 63% of female teens belonging to its loyalty program. “Despite Nike’s recent focus on D2C, the company is rebuilding its relationship with retail partners like Foot Locker and Dick’s Sporting Goods, which could signal a larger shift back to wholesale,” said Wolff. But the sportswear brand may need to return to its wholesale roots to stay successful, said Wolff. So far, so good, as revenues for the quarter ending Februwere up 14% YoY. Our view: 2023 could be a make-or-break year for Nike, according to our analyst Rachel Wolff, as it faces competition from affordable brands and new players. 7, while Crocs and Hey Dude both gained around 25 basis points of share YoY. Ugg broke into the top 10 favorite footwear brands, ranked at No. 1 brand for teens in both apparel and footwear.
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