Skechers CFO says back half ‘a little bit softer’ than anticipated in wholesale

Asked during the Wells Fargo Consumer Conference how the company is thinking about wholesale into the second half, Skechers CFO John Vandemore replied, according to a transcript of the event: “Well, we haven’t really adjusted our view on the full year, just mathematically, what that meant because the second quarter was a little bit better than expected, we’ve flowed through some of that to the back half of the year. That makes the back half look a little weaker than maybe we had originally expected, but that it really is just math to hold the year constant because, again, we haven’t seen that reorder come through yet or massive collapse. If we do start to see that there’s absolutely opportunity to outperform, and we’d be open to have that happen, but we haven’t seen it yet in the years close pretty fast. So I would say in the back half right now, it’s a little bit softer than we originally indicated, but really that’s the whole the whole year view consistent with how we started. And again, what we’re hoping for is that some of those green shoots that we’ve seen in the business start to materialize in the form of either pulled forward orders or incremental orders because that’s what we’ll ultimately get the product into their hands and then into the consumer’s hands.”