(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 12:47PM

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.

Hyunsoo Rim

appy birthday

4/1/26

Apple is turning 50 today and it doesn’t look a thing like its younger self

From Macs to iPods, iPhones, and now services, here’s how Apple’s business has looked every 10 years.

The entrance of Allbirds seen from Hayes St. in San Francisco, Calif.

Allbirds, the once buzzy multibillion-dollar sneaker startup, is selling up for $39 million

That’s less than 1% of its peak market cap about four years ago.

Tom Jones3/31/26

Max Knoblauch3/30/26

JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.