Shoe Stocks Mixed After U.S., Vietnam Trade Talk

Footwear stocks experienced a mixed performance at the close of Wednesday’s trading session. This volatility followed reports of emerging parameters for a potential trade agreement between the United States and Vietnam.

Tariff Talk

According to former U.S. President **Donald Trump** on Truth Social, “Vietnam will pay the United States a 20 percent Tariff on any and all goods sent into our Territory, and a 40 percent Tariff on a Transshipping.” **Trump** further stated that Vietnam would grant the U.S. “total access” to its markets for trade, allowing American products to be sold “into Vietnam at zero tariff.”

As of yet, there has been no corroborating announcement on the Vietnam Ministry of Industry and Trade website.

Winning Footwear Brands

Several footwear companies saw their stocks rise. Caleres Inc. increased by 5.1 percent, reaching $13.49, while Designer Brands Inc. rose by 4.8 percent to $2.83. Nike Inc. experienced a 4.1 percent gain, settling at $76.39. Wolverine World Wide Inc. saw an increase of nearly 4 percent, reaching $19.84. Steve Madden Ltd. was up 3.3 percent to $26.04, and On Holding AG increased by 2.9 percent to $53.70. Rocky Brands Inc. rose by 2.7 percent to $23.65, and Under Armour Inc. saw a gain of 1.9 percent, reaching $6.87.

Declining Stocks

Conversely, some shoe stocks declined amidst the news. Allbirds Inc. fell by 4.3 percent to $10.48, and Asics ADR decreased by 1.3 percent to $25.31. Foot Locker Inc. dropped by 0.8 percent to $24.75, while Puma SE fell by 0.7 percent to $2.71. Crocs Inc. experienced a slight decrease of 0.4 percent, settling at $106.74.

Broader Economic Context

These fluctuations occur as the global footwear market is projected to reach $478.4 billion in 2024, highlighting the industry’s significant economic impact and sensitivity to international trade policies (Statista 2024).