Footwear brand Skechers pulls annual forecast on trade uncertainty, shares drop [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
The U.S.-based company is also looking to minimize production in "high-cost locations" by re-routing and diversifying its sourcing base, executives said on a post-earnings call. China production makes up nearly 38% of U.S. sales for Skechers, according to a Bank of America note dated April 9. President Donald Trump has ratcheted up import tariffs on Chinese goods to 145%. Higher levies push up input costs for U.S. companies with significant exposure to China, and ultimately result in price increases for American consumers. The administration's back-and-forth on tariffs has also made it difficult for businesses to make major spending decisions. "The current environment is simply too dynamic from which to plan results with a reasonable assurance of success," Skechers' chief operating officer, David Weinberg, said on the call. The company will begin to feel sizable impacts of the current tariff regime at the end of the current quarter and "fairly acutely" in the third quarter,
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- The trade war is de-escalating and settling around 15% tariffs, Bank of America's CEO says [Yahoo! Finance]Yahoo! Finance
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- Transcript: Bank of America CEO Brian Moynihan on "Face the Nation with Margaret Brennan," Dec. 28, 2025 [Yahoo! Finance]Yahoo! Finance
- Full transcript of "Face the Nation with Margaret Brennan," Dec. 28, 2025 [CBS News]CBS News
- Full interview: Bank of America CEO Brian Moynihan [CBS News]CBS News
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