Promotional Pulse - April '26 Promo Tracker

Research evidence excerpt

Promotional Pulse - April '26 Promo Tracker

May 13, 2026 Promotional Pulse - April '26 Promo

Tracker

Janine Stichter

Promos Higher YoY, But No Major Inflections from March (212) 738-6052 jstichter@btig.comCONSUMER Ethan Saghi WHAT YOU SHOULD KNOW: This is the 23rd edition of our monthly promo tracker (212) 588-6595 esaghi@btig.com

featuring data from April '26. We examine: (1) YoY and MoM trends in the number of

items discounted online, (2) YoY trends in advertised store/site level discounts. 7 ofRETAIL 12 banners saw discount levels up YoY (vs. 7 of 11 in March), while total sale items

increased ~14% YoY, down from +25% in March (see Exhibits 2-3). Advertised promos

were higher YoY as well. JILL (Buy, $18 PT) and BOOT (Buy, $235 PT) were the onlyAND companies to see both lower sale items and advertised promos. SHOO's (Buy, $50 PT)

sale items inflected lower YoY, and advertised promos would have also been down

if not for a timing shift. HOKA (a div. of DECK, Neutral) continued to feature higher

advertised promos YoY by utilizing its loyalty program, while sale items were also

meaningfully higher as the co. moves past its easier promo comparisons. Vans' (a div. of

VFC, Buy, $23 PT) advertised promos were higher YoY for the fourth consecutive monthLIFESTYLE

after not offering any advertised promos LY in April, while sale items inflected higher

YoY for the first time in four months. VFC's TNF saw advertised promos flat YoY after

running higher for three consecutive months, although sale items remained higher YoY.

■ Discounts higher vs. LY. Of 12 banners, 5 featured a lower number of items on saleBRANDS YoY and 7 featured more. The amount of items on sale across all cos. was up ~14%

YoY in April (vs. +25% in March). Cos. that featured a lower number of discounts