Wedbush provided an industry note on Footwear and Apparel Sector, mentioning that there are lots of tailwinds to the space from a demand perspective, given a healthy consumer, easy Q4 compares (particularly in Europe), and a potential return of foreign tourism.

Many retailers have seen sales exceed pre-COVID levels YTD, many wholesale businesses are still lagging behind due to conservative inventory management by retailers. With strong sell-through trends and lean inventory levels, the analysts think many wholesale brands will benefit from a restocking cycle over the next 12-18 months.