08-22-2016, 11:56 PM
The company expects to open 200 new stores by the end of 2016, the shift away from wholesale also helped in boosting its gross profit. It is expanding internationally at a fast clip, with second quarter sales at its stores abroad rising by 40% from the year before. While domestic wholesale sales fell by 5.4% in the quarter from a year ago, company-owned retail-store sales grew by 15%. .. At the end of the quarter the company had 546 company-owned Skechers retail stores, of which 142 are outside the US. Skechers opened an additional 23 retail stores this quarter.
Also, with the stock setting 52 week low prices, insider buying would be appropriate if there is a worthwhile opportunity. However, an online Form 4 screener merely shows fervent selling. The CEO, Robert Greenberg, is incentivized to drive the share price higher because he owns 45.0% of outstanding Class B common shares, and members of his immediate family own an additional 15.7%. Further, Gil Schwartzberg, trustee of several trusts formed by Mr. Greenberg and his wife for estate planning purposes, beneficially owns 38.7% of outstanding Class B common shares. As a result, open market insider buying by them would be a surprise (Source 10K).