Skechers See Growth from Competitors’ Bankruptcies and China
Skechers told B. Riley investors it is seeing struggles in domestic wholesale coming out of Q1, but its own backlog is positive with a pared down focus to successful styles for the upcoming seasons. It expects domestic wholesale to recover in the back-half and remain flat for the year. Payless’ pending closures and continued door closures from Sears should benefit SKX. It has identified overlap in its bottom customers and Payless’ top customers, and has seen growth in its work business with Sears’ competitors.
DTC has been in Skechers’ strategy for over a decade, operating over 750 company owned stores and ... Log in to view full article.