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Economics

Footwear Industry Pulls Back on Hiring as Weaker US Sales Expected

  • 87% in survey expect weaker sales in the next six months
  • Two-thirds of executives see staffing steady or lower
A pair of boots hang in front of wooden shoe patterns at a factory in Omaha, Nebraska.

A pair of boots hang in front of wooden shoe patterns at a factory in Omaha, Nebraska.

Photographer: Luke Sharrett/Bloomberg

The footwear industry, seen as a bellwether for US consumption, is pulling back on hiring and investment amid predictions of a sales slowdown. 

A survey from the Footwear Distributors & Retailers of America, a trade group that represents nearly 500 US shoe retailers and brands, including Walmart Inc., Nike Inc. and Allbirds Inc., found that 87% of companies expect weaker sales in the next six months. They also predict operating costs will continue to climb.