10 Companies Echo Friday’s Market Pessimism

5. Skechers USA Inc. (NYSE:SKX)

Footwear giant Skechers fell by 12.68 percent on Friday to finish at $66.03 apiece as investor sentiment was weighed down by potential headwinds and uncertainties from the growing trade tensions between the US and China.

According to reports citing SKX Chief Finance Officer John Vandemore, President Donald Trump’s move to impose tariffs on China has impacted SKX’s visibility and will likely lead to a reallocation of certain production, vendor concessions, and pricing.

“While we have not yet fully factored their potential impact and our response into the following guidance, it will likely comprise a combination of actions, including the reallocation of certain production, vendor concessions, and pricing,” he said.

The drop in its valuation demonstrated investor pessimism as traders snubbed reports of SKX’s impressive performance last year.

Last quarter, SKX said attributable net income rose by 13.9 percent to $99.3 million from the $87.2 million reported in the same period a year earlier, pushing attributable net profit for the full year 2024 higher by 17 percent to $639.5 million from $545.8 million.