1342 ET - The deal between Skechers and 3G Capital highlights value in the softline retail sector, says TD Cowen's John Kernan and Krista Zuber in a research note. The maker of comfy sneakers agreed to sell itself to the private equity firm in a deal worth about $9.4 billion. The analysts say it highlights opportunistic investing in the sector given market uncertainty, with sector valuation multiples near five-year lows. They add that 3G's playbook of boosting margins creates the likelihood that Skechers becomes public again in the distant future. The analysts say that Under Armour, Figs, Columbia Sportswear and Yeti all have similar shareholder voting rights and founder-led dynamics to Skechers. Skechers surges 25% to $61.49, on pace for its largest percentage increase since October 2017. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
May 05, 2025 13:42 ET (17:42 GMT)
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