Rising travel in summer and increased interest in daily workouts have allowed footwear companies to perform well in the second quarter. Launching new products and increasing online presence should drive the industry’s growth. The global footwear market is expected to grow at a 5.9% CAGR to reach $508.23 billion by 2027.
Shares of Foot Locker, Inc. (FL), which is engaged in the retail of athletic footwear, apparel, accessories, equipment, and team licensed merchandise, have soared more than 30% over the past month on the news of its CEO change and the company’s earnings beat in the second quarter.
