UBS analyst Jay Sole said he believes Skechers (SKX) carried its strong U.S. momentum into Thanksgiving and likely through Cyber Monday. He also thinks the company continues to perform well in China and that Singles Day in China was strong. He believes that as Skechers continues to deliver strong organic sales growth and steady margin expansion, its stock will get a P/E multiple more in-line with the "only 4 other companies" he covers that he sees achieving double-digit EPS growth over the next 5-year period - namely Lululemon (LULU), Nike (NKE), Under Armour (UAA) and Burlington Stores (BURL). Sole keeps a Buy rating and $48 price target on Skechers shares.
News For SKX;LULU;NKE;UAA;BURL From the Last 2 Days
Nike announced a series of senior leadership changes. Heidi O'Neill, President of Nike Direct, will become President of Consumer and Marketplace on April 1, succeeding Elliott Hill, who is retiring from Nike. Andy Campion, currently Executive Vice President and Chief Financial Officer, will become Chief Operating Officer, also effective April 1. He will succeed Eric Sprunk, COO, who is retiring from Nike. Matthew Friend, currently CFO of Operating Segments and Vice President of Investor Relations, will become the new CFO for NIKE, Inc. Both Hill and Sprunk will remain with Nike until later this year. "I am delighted to announce a series of leadership changes today which set up the company for continued growth and demonstrate the strength of the Nike management bench," said John Donahoe, President and CEO of NIKE, Inc. "Heidi and Andy's leadership has been instrumental in both evolving and driving Nike's strategy over the last decade. In their new roles, we will see them have even greater impact on Nike's success in the future. Matthew brings more than 10 years of Nike experience to the CFO role and will be a great addition to our executive leadership team."*