Bullet points of Skechers Stock Tumbles as CFO Gives Warning on China Outlook
Bullet points of Skechers Stock Tumbles as CFO Gives Warning on China Outlook
- Skechers U.S.A. Inc. shares fell 9.6% after the company's CFO said China sales will be under pressure for the rest of the year.
- China is a major market for global retailers, and concerns about the strength of Chinese consumer buying have long been a focus.
- Wall Street analysts give Skechers 17 buy ratings and one hold, with an average price target of about $81, more than 30% higher than where shares currently trade.
- Skechers U.S.A. Inc. shares fell 9.6% after the company's CFO said China sales will be under pressure for the rest of the year.
- China is a major market for global retailers, and concerns about the strength of Chinese consumer buying have long been a focus.
- Wall Street analysts give Skechers 17 buy ratings and one hold, with an average price target of about $81, more than 30% higher than where shares currently trade.