You two just don't get it. Time after time it has been proven here that SKX toners are not being sold at "clearance prices" anywhere but in the few odd locations reitkid comes up with from time to time. Current discounts range from 17% at the biggest retailers of SKX toners to 40% at Zappo's. The average discount at all web sites is less than 25% and discounts have decreased since January 1, on average.
Reitkid totally misrepresented the situation at Kohl's this morning. He mentioned a sale that was discountinued within hours of his posting--if not before! Kohl's has SKX toners on sale for about the same discounts as everyone else and those discounts aren't fifty percent or more as reitkid keeps implying.
DSW handles only the least expensive of SKX toners. Yet their discounts are a modest $10 on $65 shoes which is 15% or so.
If you want to promote bad news all the time, give us some bad news. Show us where wide varieties of SKX toners are on sale right now for the "clearance prices" you've been falsely saying you can find.
Reitkid doesn't tell the truth. He certainly didn't with respect to Kohl's today. What is his motivation for misrepresenting the overall situation? Because now he says he has a small long position in SKX? Or is that yet another one of his lies.
kriketfot, I guess your posts about total sales prices just are not sensational enough. Some here seem to be saying we want to know the lowest prices only; we don't care about total pricing of Skechers. The lowest price is the only important price.
Oh my God!!! A toning shoe priced at $29.98!!!
Whooops.....it's an Avia Avi Motion Women's Toning Shoe. Avia must be in trouble.
Oh my God!!!! Another toner at $27.99 marked down from $99.99!!!
Whoooops....it's a Reebok Easy Tone. Reebok must be doing poorly.
Oh my God!!! a runner reduced to $27.99 from a $109.99!!!!
Whoooops....It's a Ryka Reform Women's Runner. Bankrupcy around the corner; Ryka has a women's toner at Costco.
Oh my God!!! a trainer marked down to $49.99!!!
Oh. It's a Nike.
patient, you're the one adding the "oh my god" bit since you'll see that i don't do that in my posts.
I think the discounting by various brands just adds to the case that it'll be difficult for shape ups to have an ASP over $80 going forward. i'm still looking at somewhere between $60-$80.
Thanks for sharing your loss Portland. I have lost reputation amongst family that exceeds my financial losses (financial losses are tolerable but embarrassing). Its not all do to SKX, also WDC got me, only to turn around violently after I sold. That one did turn out to be a deep value play unfairly beaten down or manipulated down. So is life in the market!
One of my weaknesses is risk management, and willingness to use margin. It seems you have more common sense, and are backstopping your positions. Deep value offers a degree of downside protection, diversification with several value plays furthers the protection, and the use of options (which I have not used) also helps. I would add PATIENCE to that list and risk tolerance (or tolerance for loss), as getting the timing right is a big factor. Also, willingness to trade portions of a position to catch movement in a stock (buying SKX at 19 - 19.5 has proved profitable 3 times now!).
In terms of your yacht, I wish you the best in reaching the last mile of your goal. It sounds like you've tasted it, and are or will be within striking distance again, with a little bit of astuteness, patience, and luck you will get there.
stop the nasty rhetoric please. it's beneath us as a group. we have more important issues like figuring out which way and when skx stock is going.
hard to figure whats is happening with the inventory issue from anecdotal evidence of price points at various retailers. i come back to this: weinberg said it is easy to correct the inventory problem, move it anywhere, their own stores, big box, international where there is no toning product. do we believe him at his word? havent they done it before? i would say so.
retailers all work off different margins: costco, zappos,famous footwear, kohls, etc. 80-85 bucks retail is a sweet spot for price. they are not worth 110 bucks and this hurts volumes. better 80-85 bucks on average, skx gets 40-45 on bigger volumes and everyone is happy. the new inventory is 110-130 with no discounts and these shoes are toning 2.0. skx has done its homework, people love toning shoes for comfort mostly, but fitness also. the amazon/zappos reviews have 5 stars across the board for tens of thousands of reviewers. the product sold 1 billion at retail and is new and improved. the billion sold wears out and only leads to greater sales.
the company has been completely silent, this is their usual m.o. we have to wait to see what is happening. retail has been strong which helps their job of moving units.
give it 1 year, not 1 month, 2 months or 3 months. the company has incredible value, just wait it out. i say the move starts up soon, but we will see about that.
That particular Kohl's shoe isn't stocked well even at the Skechers website. It must be a discontinued color. In fact, of the 5 colors shown on Skechers website, only 2, the black and the white, have a full range of sizes. Their price $100.
No Krike. I can't read. I have my 6 year old interpret the gibberish I see all day long from some on this board.
Regarding the Kohls link, I'M THE ONE WHO POSTED THAT IT CHANGED AND WAS NO LONGER VALID. Did you read that, or do you selectively read certain posts? Or, are you the one who can't read?
Regarding the other posts - The fact is, there is discounting going on. The extent of that discounting is what we are all trying to determine. Do you know how much of the inventory problem is related to the older models facing the heavy discounting? I sure don't. I hope Reit keeps posting the information. It gives us all a chance to dissect it and see whats going on. You bashed him in another post a few days ago and he rebutted you very well, and you conveniently ignored it. Let me refresh you on his rebuttals.
1.) A while back, you posted there was no discounting above 25% or something of that nature. This is wrong. We have seen plenty of discounting at higher levels. As I've posted factually in the past, my local FF locations have both been selling the same toners my wife and I bought for $110 at $60. And inventories were roughly half of shelf space. That is a fact.
2.) He also posted you have had a strong buy rating from 25-30 range. Looks like you got that wrong. I hope it hasn't been too painful.
Look, I don't know what your problem is with me. I really don't give a flying f... either. My posts are honest. I've said for quite some time how that I think its a long term oppotunity with short term headwinds. Its funny, the folks most dedicated to this stock also blatantly admit that this could go down to $15 or $16, which would be another 20-25% slide in value, yet they continually bash some here that are trying to figure out why it may or may not go there. From what I can see, the FACT is that the shorts (including Reit) have been right for quite some time now. The longs, including you, have been wrong for quite some time, as you cling to your facts from the past. I see a short interest that basically has done nothing over the last few weeks, despite multiple opportunities for covering. Until they are proven wrong, I'm going to keep an open mind. I'm certainly not going to follow a long who had a buy rating of up to 50% higher than where we are today, particularly since that long has been, well, wrong.
You also ripped me in a separate link in the past as you did Reit. I responded, and I guess you weren't up to defending your position, sort of like when Reit shredded you.
To the rest of you longs, I wish you well. I'm only trying to help figure this out. It behooves us all to keep an open mind. Whats done is done with skx. Its what is going to happen that matters.
I update my store checks on a regular basis and the discounts do change slightly from time to time. But those store checks are on dozens and dozens of shoes, not just isolated models like reitkid comes up with from time to time.
No serious poster here has ever denied that discounting has been going on with SKX. The question is the degree of discounting. You and reitkid have repeatedly claimed "clearance pricing" for SKX toners. Please prove what you claim with more than random evidence. Reitkid's research is anecdotal at best and is always very negative. Mine is based on multiple facts from a wide variety of sources.
I missed your post on the Kohl's sale that reitkid mentioned. But what does that have to do with the fact that the sale had ended just hours--at best--after reitkid found it? Also, it was very misleading of reitkid to not mention that Kohl's has lots of other SKX toners available at much higher prices.
Mags, not me predicted SKX might go down to $15 to $16 per share. But what would that matter? I've said repeatedly that I expect SKX to sell at two times book value within six to eighteen months. That's not a very long time frame and would make SKX a stupendous investment at current prices.
What is reitkid's agenda? He claims to be long and bashes SKX at every turn. If he was ever short SKX (and how would we know this?) who cares. But you keep cheering on every anecdotal post he makes about "clearance pricing" as though it were the gospel truth. Others of us have responded with an overwhelming array of facts. All you two can do is play the victims and look for the next firesale price in SKX toners to post. Neither activity proved anything.
"Do not trust the horse, Trojans. Whatever it is, I fear the Greeks even when they bring gifts."
"Trust not their presents, nor admit the horse."
"Foes' gifts are no gifts: profit bring they none."
Beware of shorts bearing gifts. Because thous gifts aren't for thee but for Reitkid.
Krik, you and specsit are being rude and ungentlemanly. It would be fine if you disagree and say so, but those two see the world differently than you and they are being earnest in their observations and posts (just like you) and their participation is welcome here by me and others (as we welcome yours).
The only possible person (or thing) on this board who might have "agendas" is skecthersoe who appears to be some sort of short troll who never posts anything intelligible. Let's get off the reitkid-bashing and stick with information exchange and analysis.