© Stocksak. FILE PHOTO. Kanye West speaks to President Donald Trump during a meeting to discuss criminal justice reform at the Oval Office of Trump’s White House in Washington, U.S.A, October 11, 2018. REUTERS/Kevin Lamarque
(Stocksak) – Skechers USA NYSE: Inc stated Wednesday that its executives escorted Ye (formerly known as Kanye) out of a Los Angeles corporate headquarters after the rapper and fashion designer “showed-up unannounced”
It stated that the footwear manufacturer “has no intention to work with West,” in a statement.
Skechers’ remarks come one day after Adidas AG (ETR 🙂 ended its partnership to West, following a series obscene comments from the celebrity.
Skechers stated, “We condemn his recent divisive comments and do not tolerate antisemitism”
Stocksak was unable to reach Ye’s representatives immediately for comment.
Gap Inc (NYSE -) has taken immediate steps to remove Yeezy Gap products, as well as shut down YeezyGap.com.
After closing down nearly 10% on Wednesday, shares in California-based Skechers rose nearly 1% in extended trading.
After missing third-quarter earnings estimates, the company’s Tuesday forecast showed current-quarter sales below Wall Street expectations. The lower operating costs and foreign exchange rate impacts had impacted the company’s ability to meet its Wall Street expectations.