Last-minute Christmas shopping? These shares look like good value…

Value investors looking for cheap shares have a challenge on their hands right now. But I think there are still opportunities for buyers to consider – and who doesn’t love a bargain at this time of year?

In general, the last 12 months have been a challenging period for footwear companies. But in a few cases, I think share prices look attractive heading into 2026.

Beaten-down stocks

A weak macroeconomic environment, especially in the US, has been weighing on sales across the board for footwear companies. And this has had a predictable impact on share prices. 

To some extent, companies are waiting for consumer spending to pick up. But there are some encouraging signs for 2026 with inflation starting to moderate and interest rates falling.

Even if it doesn’t materialise in the next year, though, there might be long-term value on offer for investors. And there are some companies that look interesting at an individual level.

Unforced errors have caused some stocks to fall more than they might have in the ordinary course of business. But I think they look interesting as they work to get back on the right track.

Dr Martens

It’s been another year in transition for Dr Martens (LSE:DOCS). But I think there are clear signs that the organisation is starting to move forward from its recent issues. 

Investors reacted very positively to the firm’s profits coming in ahead of expectations in the middle of the year. And there are signs the new product-focused strategy is working well.

Positive results in the firm’s e-commerce business have been a real highlight. But the stock has fallen back as trading conditions have remained tough in the second half of the year.

The result is that the stock is trading at some of its lowest valuation multiples since going public. And that means value investors hunting for opportunties might want to take a look.

Nike

It’s no secret that Nike (NYSE:NKE) has one of the most recognisable brands in the world. But that hasn’t helped the company much in 2025 as sales have struggled to rebound.

The latest issue is China. Competition from local brands with lower prices has been weighing on the firm’s ability to rebound from its previous issues and remains an ongoing risk.

The company, though, is making progress in the US. The new CEO has been working to restore relationships with retailers after an excessive focus on selling directly to consumers.

A big drop after the latest earnings results means the share price is close to 52-week lows. As a result, I think it’s worth considering as a stock to buy for the long term.

Christmas shopping

Value investors finishing their Christmas shopping might want to check out Dr Martens and Nike. The stocks are trading at low prices, but the underlying businesses are moving forward.

In both cases, this is being masked by weak consumer spending. And while it’s hard to be sure when this will turn around, I think there are positive signs in 2026.

For long-term investors, though, stocks aren’t just for Christmas. So a weak macroeconomic environment might just be a buying opportunity worth taking a look at.

The post Last-minute Christmas shopping? These shares look like good value… appeared first on The Motley Fool UK.

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Stephen Wright has no position in any of the shares mentioned. The Motley Fool UK has recommended Nike. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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