Palm Valley Capital recently released its Q1 2020 Investor Letter, a copy of which you can download below. The fund posted a return of 0.79% for the quarter, outperforming its benchmark, the S&P Small Cap 600 Index which returned -32.65% in the same quarter. You should check out Palm Valley Capital’s top 5 stock picks […]

DripReport Song "Skechers" Becomes Global Phenomenon With Over 1 Billion Streams on TikTok

SKECHERS USA, Inc. (NYSE: SKX), a global leader in lifestyle and performance footwear, today announced that it will release its first quarter 2020 financial results after market close on Thursday, April 23, 2020. A conference call will be held the same day at 4:30 p.m. ET / 1:30 p.m. PT. Participating on the call will be David Weinberg, Chief Operating Officer, and John Vandemore, Chief Financial Officer.

Q1 2020 Skechers USA Inc Earnings Call

Mid-cap companies, as the title implies, are businesses that have grown enough to no longer be considered small but remain significantly smaller than the biggest corporations. While the definition is subjective and arbitrary, mid-caps are generally considered to be businesses with a market cap between $2 billion and $10 billion. Three that fit that description and look like buys right now are Skechers (NYSE: SKX), Universal Display (NASDAQ: OLED), and Wix.com (NASDAQ: WIX).

Skechers USA Inc. shows post-coronavirus promise, according to UBS analysts, who think the company will benefit from the continued athleisure trend, which is shifting from "performance" items used for sports and workouts to streetwear. UBS forecasts 6.5% global growth in the athleisure category, with gains in developing markets. "COVID-19 will significantly affect Skechers' FY20 earnings in our view," UBS said. "However, we think the company is an underappreciated global growth stock, even as the world's third largest footwear brand. Thus, we expect for earnings to gradually rebound and exceed FY19 levels." Analysts expect fiscal 2020 sales to fall 15% to $4.4 billion. Skechers 2019 sales were $5.22 billion. UBS maintained its buy rating on Skechers stock with a $32 price target, down from $50. UBS cut price targets for a number of brands, including Ralph Lauren Corp. (to $75 from $123), Coach parent Tapestry Inc. (to $14 from $28), Under Armour Inc. (to $10 from $21) and children's brand Carter's Inc. (to $69 from $101). UBS rates all of those stocks neutral. Skechers shares are down 7.1% in Wednesday trading and down 28.7% for the past year. The S&P 500 index have fallen 4.7% over the last 12 months.

SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader, today announced that John Vandemore, Chief Financial Officer, will participate in a virtual fireside chat hosted by Kimberly Greenberger of Morgan Stanley, on Thursday, May 14, 2020 at 1:00 PM ET.

Skechers (SKX) looks forward to reopening stores globally. Also, the company continues to invest in its e-commerce platform.

Skechers (SKX) delivered earnings and revenue surprises of 2.63% and 1.44%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

Steven Madden shares moved sharply lower Thursday after Wells Fargo downgraded the stock to Underweight with an $18 price target.

Skechers (SKX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

March’s 8.7% retail sales decline was bad, but GlobalData Retail expects April to be “hideous” since the month won’t have the benefit of even a couple of weeks of store purchase activity. “The whole month looks like it will be a write-off for retail, with stores remaining closed for the duration,” wrote Neil Saunders, managing director at GlobalData Retail. The March retail sales decline was a record, with clothing stores halved and department stores down 20%.

SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader, today announced financial results for the first quarter ended March 31, 2020.

NEW YORK, NY / ACCESSWIRE / April 23, 2020 / SKECHERS USA, Inc. (NYSE:SKX) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on April 23, 2020 at 4:30 PM Eastern ...

Skechers USA Inc. shares rose 3% in Friday trading after the athletic shoe company's first-quarter earnings report gave a positive long-term view. Skechers reported net income of $49.1 million, or 32 cents per share, down from $108.8 million, or 71 cents per share. Adjusted EPS of 39 cents was in line with expectations. Sales of $1.24 billion were down from $1.28 billion, but ahead of the $1.22 billion FactSet consensus. Same-store sales at company-owned stores fell 8.1%, including a 4.7% decline in the U.S. and a 16.6% drop internationally due to the spread of the coronavirus. Despite the challenges the pandemic presents, analysts are bullish. "Skechers is well positioned to emerge from the crisis in a position of strength," wrote Susquehanna Financial Group analysts led by Sam Poser. "The company has ample liquidity, brand momentum, and geographic and channel diversity, which should help Skechers weather the current crisis better than many peers." Susquehanna rates Skechers shares positive with a $32 price target. The company says it has $1.3 billion immediately available, including $490 million from an unsecured credit facility. Stifel analysts say the company's speed to market and scale will help it gain footwear category market share. Analysts there rate Skechers stock buy with a $43 price target. Skechers stock has dropped 17.8% while the S&P 500 index is down 4.2%. See: Skechers will benefit from the continued athleisure trend and global growth, UBS says

At market close, its stock was up 1.09% to $25.

The you know what is about to hit the fan in America's retail sector because of the coronavirus pandemic.

Shares of Skechers (NYSE: SKX), Foot Locker (NYSE: FL), and The TJX Companies (NYSE: TJX) jumped 8% or more Monday as a wave of optimism pushed markets higher thanks to comments from Federal Reserve Chairman Jerome Powell and a positive vaccine development. One source of investor optimism was provided by biotech Moderna, which announced that its vaccine mRNA-1273 was found to be safe and well tolerated in an early-stage study and that it produced antibodies in patients that could "neutralize" the coronavirus. A second source of optimism was provided by Powell, who said the Fed had plenty of ammunition left if needed, adding, "There's a lot more we can do."

The company is proving it can battle the coronavirus.

Skechers' (SKX) focus on products, inventory management and global distribution platform bode well. However, the impact of store closures due to coronavirus is likely to reflect on first-quarter results.