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[Industry In-Depth Research] Why is Skechers USA, which has been popular among the middle class, suddenly going to be (Delisted)?
Marketed as the "middle class shoe brand," Skechers USA unexpectedly announced its privatization decision on May 5 local time, which immediately stirred widespread waves in the Capital Markets. Shortly before, a total of 76 footwear manufacturing companies, including Nike, Adidas, and Skechers, had jointly written to the White House, pleading for exemptions from the so-called "reciprocal tariff" measures. These companies pointed out that the newly implemented tariff policy poses a "survival challenge" to footwear manufacturers targeting the budget market, and if this policy continues to be enforced, some companies may face a severe risk of bankruptcy.
Monness Initiates Skechers USA(SKX.US) With Hold Rating
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Morgan Stanley Downgrades Skechers USA(SKX.US) to Hold Rating, Cuts Target Price to $63
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Skechers USA announced its delisting and has canceled 119 branch institutions in the country.
Sina Technology reported on the morning of May 7 that Skechers USA has recently announced its decision to go private. As the third largest sports shoe retailer in the Global market and twice included in the Fortune 500, this move has caused a stir in the market. According to the Tianyancha App, Skechers China Co., Ltd. was established in November 2007, and the controlling enterprise information shows that the company has actual control over more than 20 enterprises, most of which are in operation or in good standing, including Skechers Trading (Shanghai) Co., Ltd., Guangzhou Skechers Commercial Co., Ltd., and Skechers (Taicang) Trade Logistics Co., Ltd. involving trade and commerce.