Promotional Pulse - May '26 Promo Tracker

Research evidence excerpt

Promotional Pulse - May '26 Promo Tracker

June 11, 2026 Promotional Pulse - May '26 Promo Tracker

Promos Tick Slightly Higher; BOOT and SHOO Continue to Hold the Line

Janine Stichter

WHAT YOU SHOULD KNOW: This is the 24th edition of our monthly promo tracker (212) 738-6052 jstichter@btig.comCONSUMER featuring data from May '26. We examine: (1) YoY and MoM trends in the number of Ethan Saghi items discounted online, (2) YoY trends in advertised store/site level discounts. 8 of (212) 588-6595 esaghi@btig.com

12 banners saw discount levels up YoY (vs. 7 in April), while total sale items increased

~19% YoY, up from +14% in April (see Exhibits 2-3). Advertised promos were higher YoYRETAIL as well. BOOT (Buy, $235 PT) was the only company to see both lower sale items and

advertised promos, which it achieved for the second month in a row. SHOO's (Buy, $50

PT) sale items remained lower YoY, while advertised promos were relatively flat. HOKAAND (a div. of DECK, Neutral) continued to feature higher advertised promos YoY, largely

the result of strategic efforts to reset the market ahead of new Clifton franchises set

for July. UGG (a div. of DECK) sale items inflected higher YoY for the first time in five

months as well. Vans' (a div. of VFC, Buy, $23 PT) advertised promos and sale items

remained higher YoY. TNF's (a div. of VFC) sale items remained higher YoY as well,

although advertised promos were flat. Birkenstock (BIRK, Buy, $60 PT) saw advertisedLIFESTYLE

promos inflect higher YoY as the brand utilized loyalty member and sale page offers

outside of the holiday period for the first time since we began tracking.

■ Discounts higher vs. LY. Of 12 banners, 4 featured a lower number of items on sale

YoY and 8 featured more. The amount of items on sale across all cos.