Consumer Cyclical Sector Review: Skechers Remote Sales Recovery, Jefferies Disses Under Armour
BB&T downgraded Skechers USA, Inc. (NYSE:SKX) following checks that indicate a sales recovery in 2012 is “remote.”
The shares closed at $12.02, down $0.62, or 4.91%, on the day. Its market capitalization is $599.69 million.
Jefferies lowered its Q4 EPS estimate for Under Armour Inc (NYSE:UA) to 57c from 64c, below the consensus estimate of 63c, ahead of the company’s results on January 26. The firm thinks the mild winter placed downward pressure on earnings and upward pressure on the company’s inventory position, which it feels could lead to a miss in Q4 and lower expectations for 2012. Jefferies keeps a Hold rating on Under Armour shares.
The shares closed at $73.24, down $3.03, or 3.97%, on the day. Its market capitalization is $3.79 billion.
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