Is the footwear climate getting more promotional? With fall shopping in full swing, BTIG is taking stock of where things stand.
Among the players that the investment firm tracks, four shoe brands were more promotional last month compared to the same September 2025 period, while three brands featured a lower number of advertised promotions over the same period.
The three outliers in September were On Running, Steve Madden, and Ugg. The four brands that had a higher number of advertised promotions were Birkenstock, Hoka, Vans and Boot Barn.
Except where noted, the second quarter refers to the three-month period ended September 2026.
Birkenstock was more promotional last month on a year-over-year basis, according to BTIG analyst Janine Stichter.
The brand offered an extra 10 percent to 15 percent off sale styles for the month. “We believe this is partially a strategic effort to support growth in the DTC (direct-to-consumer) business,” Stichter said.
Stichter is expecting gross margin to be up 50 basis points year-over-year for the fourth quarter ended September, helped by channel mix and DTC growing faster than wholesale.
For advertised promotions, Boot Barn was more promotional in women’s western boots, offering select boots for $99 and up to $75 off select items, representing the ongoing softness in the category. The company was also less promotional across the remainder of its business. And the retailer advertised similar clearance deals of an extra 25 percent off clearance boots, apparel and accessories.
Stichter is projecting gross margin up 20 basis points year-over-year, driven mostly by freight improvement, tariff refunds and product margin expansion.
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