The outlook for China in the second half of 2024 is worse than expected, leading to a reduction in full-year sales trajectory for the country, CFO John Vandemore shared at the Wells Fargo Consumer Conference. SKX shares tumbled 10% on the news, also pulling down other sneaker stocks. Softening consumer confidence in the PRC is presenting more headwinds than initially thought, as the sales lift from Zero Covid’s ending has faded. The company remains bullish on the Chinese market for the long term, however, and is still pushing ahead with DTC ... Log in to view full article.