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Fly News Breaks for July 26, 2018
SKX
Jul 26, 2018 | 07:54 EDT
As reported earlier, Argus analyst John Staszak downgraded Skechers to Hold from Buy, citing the company's Q2 earnings miss, as well as its reduced revenue growth outlook and "only a marginal" gross margin expansion in Q3. The analyst anticipates the company's increased investment in direct-to-consumer and international business to weigh on the operating margins over the next few quarters, even as the demand for its products is still seen as "solid'.
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