I hadn't been in SKX before, but yesterday I shorted and covered a small position for a small profit. I'm re-entering on the short side. Among my reasons are insider selling which appears to be more than normal, routine selling and I recall that the founders of Sketchers once founded LA Gear and rode it up as a fad leader until others caught up and surpassed them. I missed buying this and seeing it double and more, but I think it's now as overpriced as it once was underpriced.
Before the end of the quarter I'm just nibbling at a short position though.
I didn't bother with re-starting a position in SKX then because stock has such a low float. It looks tempting as a short today, but I chose to short NKE instead. I wouldn't buy or even hold SKX here. As a (middle aged, female) runner, I check out lots of shoes for comfort as well as for performance. Last night I went shopping with an open mind and ended up buying a pair of New Balance shoes to add to my Aasics and Reeboks. The casual shoe category is crowded and over supplied, IMHO.