Skechers USA Inc Battles Analyst With Press Release

Skechers USA Inc SKX fired off a challenge Thursday to the analysis of an investment bank that suggested the footwear maker's sales fell 3 percent at the end of the back-to-school shopping season.

Skechers' shares tanked Wednesday after a number of analysts separately cited a widely used market research company's data showing the footwear maker's sales faltered during the week ended September 20.

Although Skechers rebounded slightly on Thursday, the company singled out a report by Buckingham Research Group's Scott Krasik, saying its contents offered a "misinterpreted or skewed" impression of results.

Krasik declined comment.

Both Sterne Agree and Susquehanna, in similar reports Wednesday dismissed the sales decline, suggesting it stemmed from retailers' lack of inventory following a strong back-to-school season.

Skecher's Chief Financial Officer David Weinberg acknowledged the accuracy of data for the week ended September 20, but said Buckingham "didn't report is that the week ending Sept. 30 is one of the three smallest weeks of the year."

“We respect the SportScan data released every Wednesday on the footwear business, but when not looked at in its entirety or analyzed over periods of time, and understanding that some key accounts—including Amazon, Zappos, Kohl's and Finish Line/Macy's, are not currently reporting and are projected based on the balance of the sector, the data can be misinterpreted or skewed,” Weinberg said.

Skechers traded recently up 5.6 percent at $55.34, although it's still down percent from its Tuesday closing price.