Bloomberg the Company

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Skechers Falls Most in Two Months as Sterne Agee Cuts to ‘Sell’

Don't Miss Out —
Follow us on:

Dec. 21 (Bloomberg) -- Skechers U.S.A. Inc., the maker of Shape-ups toning shoes, tumbled the most in almost two months after Sterne Agee & Leach Inc. lowered the shares to “sell,” saying inventory issues “have only worsened.”

Skechers is seeing “continued deceleration of sales in toning and indications that margins are already collapsing,” Sam Poser, a New York-based analyst, wrote in a note today. He also lowered his price estimate to $16 from $30. “We see increasing headline risk, the likelihood of earnings per share evaporating and no sign that inventory issues will be addressed with the appropriate vigor.”

The shares slipped 7.8 percent to $19.58 at 10 a.m. in New York and earlier slid as much as 8.2 percent, the biggest intraday decline since Oct. 28.

To contact the reporter on this story: Whitney Kisling in New York at

To contact the editor responsible for this story: Nick Baker at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.