A consumer survey conducted by Wedbush indicated a "conservative" holiday spending, with 43% of respondents saying they intend to spend less in 2022 versus last year while 22% saying they intend to spend more, Wedbush Analyst Tom Nikic said.
Meanwhile, retailers are offering bigger discounts year over year based on an early look at Black Friday promos, Nikic added.
Nikic also highlighted that Nike (NKE), Foot Locker (FL), and VF Corp.'s (VFC) The North Face and Timberland brands appear to be offering higher discounts this year. However, VF's Vans brand and PVH's (PVH) Tommy Hilfiger brand seem to be less promotional, he said.
Wedbush continues to favor Deckers Outdoor (DECK) and Lululemon Athletica (LULU) among other footwear and apparel retailers. Deckers' UGG and Hoka brands have "extremely" strong demand at the moment, while Lululemon's brand momentum remains high, according to the investment firm.
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