Global Footwear & Leather Stocks Pulse Week 2, 2026
Week Ending January, 09, 2026
Reading Time: 5 minutes
Introduction
The global footwear and leather stocks sector showed resilience in the week of January 5-9, 2026, with early-year momentum in niche and premium segments offsetting pressures from tariffs, brand maturation, and consumer caution. YTD returns as of January 9, 2026, reflect strong performers in innovation-driven and lifestyle categories, while laggards face near-term headwinds.
Top 10 Gainers in Global Footwear & Leather Stocks (YTD as of January 10, 2026)
| Rank | Ticker | Company | YTD Return | Weekly Return (Jan 5-9) | Key Reason for Momentum |
|---|---|---|---|---|---|
| 1 | FORD/FWDI | Forward Industries | +84.24% | -4.81% to +2-3% (volatile) | Niche pivot to Solana treasury and blockchain initiatives |
| 2 | FWDI | Forward Industries (alt) | +10.89% | Similar volatility | Crypto strategy benefits |
| 3 | DBI | Designer Brands | +9.96% | Positive (fashion rebound) | Fashion footwear rebound and valuations |
| 4 | SHOO | Steven Madden | +8.19% | -1.18% (minor dip) | Lifestyle strength, analyst upgrades |
| 5 | BIRK | Birkenstock Holding | +6.26% | -1.45% | Sustainable designs, store expansion |
| 6 | ONON | On Holding | +5.68% | -2.98% | Premium running innovation |
| 7 | WWW | Wolverine World Wide | +4.85% | Modest gains | Portfolio recovery |
| 8 | NKE | NIKE | +3.47% | +~2.1% (from ~$64.53 on Jan 5 to $65.92 on Jan 9) | Turnaround progress |
| 9 | CROX | Crocs | +0.64% | -0.58% to minor dips | Comfort category stability |
| 10 | DECK | Deckers Outdoor | +0.09% | ~-4% (from ~$108.10 on Jan 5 to $103.76 on Jan 9) | HOKA/UGG offset by pressures |
Top 5 Losers / Weakest Performers in Global Footwear & Leather Stocks (YTD as of January 9, 2026)
| Rank | Ticker | Company | YTD Return | Weekly Return (Jan 5-9) | Key Reasons for Underperformance |
|---|---|---|---|---|---|
| 1 | DECK | Deckers Outdoor | +0.09% | ~-4% | Brand maturation, downgrades, tariffs, brand closures |
| 2 | ONON | On Holding | +5.68% | -2.98% | Short-term volatility, competition |
| 3 | CROX | Crocs | +0.64% | -0.58% to -4.8% (sessions) | Valuation concerns, Hey Dude challenges, tariffs |
| 4 | BIRK | Birkenstock Holding | +6.26% | -1.45% | Post-holiday adjustments, FX/tariff headwinds |
| 5 | SHOO | Steven Madden | +8.19% | -1.18% | Cyclical fashion volatility |
In-Depth on Top 5 Gainers: Company Happenings, Trends & Latest Developments (Early January 2026)
Forward Industries (FORD/FWDI) — Explosive Niche & Crypto Pivot Leader
Forward Industries has surged dramatically YTD (+84%+), driven by its shift to a major Solana (SOL) treasury company with blockchain integration. Key developments include shares going live on the Solana blockchain via Superstate’s Opening Bell (January 6, 2026), a new Crypto Advisory Board, and resale prospectus updates. This pivot from accessories to crypto fuels growth.
Read More: Globe and Mail announcement
Steven Madden (SHOO) — Fashion Rebound & Recovery Momentum
Steven Madden posts strong YTD gains (+8.19%), benefiting from casual/dress demand. In early January 2026, shares hit a 52-week high after Needham upgraded to Buy ($50 target), citing “major” 2026-2027 recovery from Kurt Geiger acquisition accretion, fashion trend shifts (from athleisure), and Q3 2025 validation.
Read More: Investing.com on Needham upgrade
Birkenstock (BIRK) — Sustainable Comfort & Expansion Powerhouse
Birkenstock’s healthy YTD (+6.26%) stems from premium, sustainable designs. Recent plans include ~40 new global stores in fiscal 2026, €110-130M capex for production (new German facility/Portugal upgrades), and $200M share repurchase. FY2025 results strong, with 13-15% FY2026 growth guidance despite headwinds.
Read More : WWD on store openings
On Holding (ONON) — Premium Running & Innovation Focus
On Holding advances YTD (+5.68%) through running innovations. In January 2026, CEO/CFO participated in ICR Conference fireside chat (Jan 12), discussing expansion into tennis/trail/lifestyle/apparel beyond running. Analysts bullish on premium positioning.
Reado More : Business Wire on ICR participation
NIKE (NKE) — Turnaround & Strategic Actions
Nike shows modest YTD progress (+3.47%), with stabilizing sales. Recent Q2 FY2026 results showed 1% growth, “Win Now” realignments, and Nike Mind platform launch (January 2026). Insider buying signals confidence amid challenges.
Read More: Nike Investor Relations Q2 results
In-Depth on Top 5 Weakest Performers: Company Happenings, Trends & Latest News (Early January 2026)
Deckers Outdoor (DECK) — Pressured by Maturity, Closures & External Risks
Near-flat YTD (+0.09%) with sharp recent drops (-3.35% on Jan 9) due to analyst downgrades (Baird to neutral, Piper Sandler to underperform) citing discounting risks, HOKA maturation, and tariff/geopolitical concerns. Key happenings include shuttering Ahnu and Koolaburra brands (phased out in 2025/early 2026 for focus on UGG/HOKA), leadership transition to CEO Stefano Caroti (since Aug 2024), and ongoing margin pressures.
Read More : WWD on brand closures
Crocs (CROX) — Steady but Lagging Amid Valuation & Tariff Pressures
Modest YTD (+0.64%) trails peers due to clog saturation and Hey Dude challenges. Recent dips from Baird downgrade (Outperform to Neutral, valuation concerns post-20% gain). Key updates include promotion of Rupert Campbell to EVP/President of HEYDUDE (Nov 2025), $100M+ cost savings planned for 2026 to offset tariffs, and no formal FY2026 guidance yet.
Read More : Nasdaq on tariff navigation
On Holding (ONON) — Volatility Despite Strong Growth Story
Positive YTD (+5.68%) but recent weakness from competition. No major negative January events; focus on ICR Conference participation discussing category expansion. Analysts note short-term pressures but bullish long-term outlook.
Read More : Business Wire on ICR
Birkenstock (BIRK) — Comfort Trend Holds Amid Headwinds
Positive YTD (+6.26%) supported by demand, but minor dips from FX/tariff headwinds (guidance reflects ~100bps margin drag each). Recent FY2025 results strong; plans for 40 new stores and $200M repurchase in 2026.
Read More : WWD on guidance
Steven Madden (SHOO) — Fashion Cyclicality
Strong YTD (+8.19%) from recovery, but slight daily weakness reflects volatility. Recent analyst upgrades (e.g., Needham to Buy) highlight positive outlook.
Read More : Investing.com on upgrade
Conclusion
The footwear and leather sector in early 2026 balances innovation-driven gains (e.g., crypto pivots, expansions) with pressures like tariffs, brand maturation, and downgrades on laggards. Top performers show strategic adaptation, while weakest names face transitional challenges. Optimism persists for premium/athletic trends—monitor earnings for direction. This is not investment advice; always conduct your own research.
Check Previous week News: Global Footwear & Leather Stocks Pulse for Week 1,2026
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