Zeev's Turnips Patch-No Politics (ZEEV)

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Zeev- SKX

08:47 ET Skechers USA misses by $0.13, guides Q4 much lower (SKX) 7.57: Reports Q3 (Sep) loss of $0.15 per share, $0.13 worse than the Reuters Research consensus of ($0.02); revenues fell 15.1% year/year to $221.8 mln vs the $219.7 mln consensus. Co sees Q4 revs and EPS of $155-$165 mln and a loss of $(0.55)-$(0.45) vs R.R. consensus of $185.3 mln and $(0.10)... Q3 sales were higher than anticipated due to the co's aggressive approach in reducing inventory levels, which resulted in lower gross margins and earnings. Co believes it's prudent to assertively work through its inventories. Co is also in the process of reviewing its cost structure in order to reduce overhead expenses, which should help in Q1.