(Sebastian Ng/Getty Images)

Skechers soars after the sneaker giant inks a $9.4 billion deal to go private

The chunky shoe icon is leaving Wall Street after 26 years on the market.

5/5/25 11:47AM

Skechers stock jumped as much as 25% on Monday after the ’90s sneaker staple announced a $9.4 billion go-private deal with private equity firm 3G Capital.

The brand has seen a revival in recent years, boosted by the chunky sneaker trend and a streak of strong sales, including a record $2.41 billion in Q1 of this year. But Skechers also slashed its full-year forecast, citing “macroeconomic uncertainty stemming from global trade policies.” Skechers is particularly vulnerable to recent tariff hikes, with 40% to 45% of its footwear made in China.

Before the deal, Skechers had a market cap of $7.4 billion. The buyout values the company at $9.4 billion, or $63 per share — still about $2 below its current trading price, even after the post-deal pop. The deal is expected to close by Q3 and will be financed through a mix of cash from 3G and debt financing by JPMorgan Chase.

Even with today’s rally, Skechers shares are still down roughly 8% this year.

SUDS-

SCRIPTION

Chris Stokel-Walker10/10/25

Max Knoblauch10/10/25

Ford joins GM in backing off of its EV tax credit extension plan following GOP criticism

Ford, despite benefiting from an electric sales surge in recent months, is giving up on a clever accounting plan to extend the expired $7,500 EV tax credit to some of its customers.

Like its rival GM earlier this week, Ford on Thursday night confirmed to Reuters that it will not claim the tax credit, backing off from its short-lived leasing strategy.

The automakers’ plan was to extend the subsidy by using their financial arms to put down payments on electric vehicles already on their dealers’ lots in late September. Those transactions would qualify for the credit, and Ford and GM could pass the discount on to customers through leases.

But the strategy angered GOP senators, who last week wrote a letter to Treasury Secretary Scott Bessent accusing the automakers of “bilking” taxpayers.

Ford CEO Jim Farley last month said he expects the end of the tax credit to cut EV sales in half.

Exclusive: Ford reverses plan to claim EV tax credits, following GM

But the strategy angered GOP senators, who last week wrote a letter to Treasury Secretary Scott Bessent accusing the automakers of “bilking” taxpayers.

Ford CEO Jim Farley last month said he expects the end of the tax credit to cut EV sales in half.

Tom Jones

china crisis

10/10/25

Porsche’s problems in China just keep getting worse

Sales in the region fell by more than a fifth in Q3.

Vintage Paint-Chipped Silver Porsche Speedster

Max Knoblauch

10/9/25

Delta, boosted by premium ticket sales, says customers who go Comfort+ don’t go back

Delta’s third-quarter revenue beat Wall Street estimates on Thursday, led by 9% growth in its premium ticket category.

Tom Jones10/9/25

Domino’s just announced its first rebrand in 13 years — maybe a new, “doughier” font will help sales pick up

Shaboozey! Domino’s Sans! Hotter colors as a nod to the melty heat of a pizza pulled fresh from the oven!

In a buzzword-laden justification of its rebrand yesterday, Domino’s laid plain its new aesthetic direction, coined the term “Cravemark,” and announced it would be bringing the focus back to its food, having (at least in its executive vice president’s words) become known as “a technology company that happens to sell pizza” over the last decade.

It can’t go any worse than Cracker Barrel’s refresh efforts, at least...

The raft of changes, which will roll out across the US and other international markets in the coming months, includes a new “audio and visual expression” of the brand’s name (throwing a few extra M’s on the boxes and getting country/hip-hop artist Shaboozey to elongate the letter in a jingle); brighter packaging and hotter colors; “more youthful” team uniforms (company-color Salomons and an apron with “pizza is brat” on it, maybe?); and a new “Domino’s Sans” font, which is “thicker and doughier” and has circles and semicircles “in nod to pizza, with lots of personality baked right in!”

Domino’s is down about 2% so far this year.

Domino's® New Craveable Brand Refresh Makes You Say "Mmm" | Domino's Pizza