Diamonds and Dogs
Skechers (SKX) is off and running. The shoe maker is up 17% following better than expected earnings as revenues rose 11.4% to $1.08 billion. There was strength across all of its businesses with a 18.4% surge in International wholesale business, a 7.5% pop for its global retail business, and a 4.8% uptick in its up-and-down domestic wholesale segment. Gross, operating, and net margins all widened with gross margins increasing 90 basis points to 47.7% thanks to improved retail pricing and product mix. Thanks Tony Romo.
Amazon (AMZN) and Jeff Bezos having a tough day. Amazon is down 2% as founder and CEO, Jeff Bezos accused the National Enquirer and its publisher David Pecker of extortion and blackmail, stepping up a war of words between the world's richest man and a confidant of U.S. President Donald Trump. The magazine exposed Bezos's relationship with former TV anchor Lauren Sanchez. Bezos said the National Enquirer threatened to publish more details and revealing photos if the executive didn't stop probes at the Washington Post in the Trump administration.