Auriga Reiterates a 'Hold' on Skechers USA (SKX); Soft Q4 and Visibility Limited

Auriga reiterates a 'Hold' on Skechers USA (NYSE: SKX) price target of $12.00.

Auriga analyst says, "SKX reported ($0.48) adjusted EPS for Q4, well below our ($0.21) estimate. Both sales and gross margins fell below expectations as new product introductions are few and comparisons are difficult. The new GOrun fitness shoes were rolled out in Q1; however with limited visibility regarding sell-through rates we expect revenue to decline in 1H and increase at a mid-single digit rate in 2H. We are lowering our EPS estimate for 2012 to $0.00 from $0.61 as spending cuts are expected to benefit 2H more so than 1H."

For an analyst ratings summary and ratings history on Skechers USA click here. For more ratings news on Skechers USA click here.

Shares of Skechers USA closed at $13.98 yesterday.

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