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Skechers USA Inc. Message Board

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  • cklicata cklicata Sep 25, 2010 5:46 AM Flag

    Industry Viewpoint

    I have the latest short interest at a little over 9 million shares. Thanks to those with informative posts on this board who are few and far between. This is a good example of why so many investors have left the market. The company has done everything right, grown revenue 40-50% this year, hugely profitable, great balance sheet, great brand and with no news since reporting earnings on July 28th, the stock is down 40%. The average investor has his money in a bank cd earning 1% for 3 years and I can't really blame him. As for me, I am aggressively buying a company at 6 times earnings, 3 times ebitda with 6 bucks cash and no debt, 18 bucks in book value and who has a huge opportunity to grow internationally. Are there questions about shape ups and its ability to continue to grow? Absolutely, but that is what makes it so cheap. Go on zappo's to see the customer reviews for shape ups. The vast majority of buyers love them. I say the company can manage the product and new product line roll outs and the uncertainly will be lifted in 3 months and the stock is back to 35. Will they do a buyback with the 300 million in cash they have? Everything says they won't because they never have, but I say they just might. Cash earns nothing and a buyback makes earnings go higher by about 15% for each share bought back. Don't be surprised if they do and they announce it soon. I also can't figure out how 9 million shares can be sold short here. Again, all naked short I am sure, Wall Street at its absolute best.

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