Skechers says in process now of ‘doing reset’ for forthcoming quarters

Asked while presenting at the Wells Fargo Consumer Conference if the company still expects China to improve through the second half, executives from Skechers said, according to a transcript of the presentation: “I mean, I think we need to… we’re in the process right now of kind of doing our reset for the forthcoming quarters. So I’m not really going to give very specific guidance at this point in time other than to say we’ve definitely seen worse conditions unfold in China than we expected for the back half of the year. So I would, again, I think that’s a market that’s still reforming itself post COVID…And so I think it feels very much like a market that’s still continuing to cure. But in the short term, that’s going to mean more headwinds than we had anticipated.”