Skechers USA Inc. said Wednesday it is temporarily suspending shipments of its sporty footwear and apparel to Russia following its invasion of neighboring Ukraine. The company said it’s also donating $250,000 in humanitarian aid to Ukraine and matching employee donations up to another $250,000. “We have deep concern for Ukraine and its citizens, who are doing all they can to defend their country and survive while under siege,” President Michael Greenberg said in a statement. Skechers is joining a growing list of companies that are pulling our or suspending investment in Russia. Shares were up 2.8% but are down 12% in the last 12 months, while the S&P 500 has gained 10%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
