1341 ET - The acquisitions of Skechers and Foot Locker may have happened more quickly due to tariff pressure on footwear stocks, Piper Sandler analyst Anna Andreeva tells WSJ. While these separate deals--both announced this month--appear to have been in the works before President Trump took office, tariffs may have bumped up timelines as shoe companies saw their stocks plummet. The group of shoe companies Andreeva covers are down overall about 20% this year, even since tariffs were lowered, as the brands rely heavily on Asian countries for manufacturing. "The stock sell-off probably exacerbated some of these moves," Andreeva says. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
May 15, 2025 13:41 ET (17:41 GMT)
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