US Softlines Retail "Expert Call Recap: More Evidence Hoka Is Taking Sha..."

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US Softlines Retail "Expert Call Recap: More Evidence Hoka Is Taking Sha..."

due to improving consumer Associate Analyst

confidence in anticipation of resolution of the Middle East conflict. This was driven by a natalie.koltermann@ubs.com

positive inflection in traffic trends to the +MSD% range. Plus, the expert noted industry +1-212-713 4229

promotional levels returned to normal levels in May. Looking to June MTD, the expert Aditya Kulkarni

noted traffic trends remain positive y/y. Associate Analyst

aditya.kulkarni@ubs.com

Running remains the strongest growing category: +1-212-713 1098

The EU trend toward running which accelerated during the pandemic hasn't slowed Serge Severenchuk

down. Despite lapping big growth since 2020, the running category continues to Associate Analyst

serge.severenchuk@ubs.comexpand in the +DD% range and has positively surprised the expert. The expert has

+1-212-713 4856

observed consumers willing to pay high prices for products they believe will enhance

their running experience. The expert believes the running category is growing because Srikar Vinjamuri

of increased participation in sports and is noticing young people increasingly getting Associate Analyst

srikar.vinjamuri@ubs.cominvolved in both road and trail running.

+1-212-713 3448

Hoka is leading the growth in running; On is also performing well:

The expert continues to see Hoka taking market share. The expert noted consumer

demand and sell through rates for Hoka product are very solid and the brand is

increasingly solidifying its positioning within road running and trail running. Plus, the

brand is gaining traction within the lifestyle category. The expert noted Hoka continues

to outperform expectations, with recent trends in the +25-30% range. Plus, the expert