Skechers falls after withdrawing annual forecast on economic uncertainty

Skechers USA

25/04/2025 12:48

** Shares of footwear maker Skechers SKX.N up 6.9% at $47.00 premarket

** Co pulls annual forecasts due to economic uncertainty fueled by President Trump's trade policy

** Co says it will address impact from tariffs by cost sharing with vendors, sourcing optimization and price adjustments

** Production shift is most challenged for co's kids segment, a smaller, lower margin yet additive business which is most China exposed - TD Cowen

** Brokerage notes underlying business trends are strong; says demand creation will emphasize brand's "reasonable price" appeal

** SKX's Q1 sales growth of 7.1% also misses estimates of a 7.9% jump - data compiled by LSEG

** U.S.-listed shares of footwear cos Nike NKE.N, Crocs CROX.N, On Holdings ONON.N down about 1% each premarket

** As of last close, SKX down ~25% YTD

 (Reporting by Juveria Tabassum in Bengaluru)

 ((Juveria.Tabassum@thomsonreuters.com;))