Robert Greenberg, Chief Executive Officer of Skechers, Inc. released a letter to the Company's Employees. While the letter claims that a private equity firm's potential buyout of Skechers is simply a rumor that is “disruptive to our employees and customers and our business,” he stopped short of denying the allegations.
The letter reads:
“Dear Employees:
I am writing to address some market rumors and speculation about our Company. An article in yesterday's Women's Wear Daily contains an assertion that a certain private equity firm is analyzing Skechers, with the expectation that Skechers may be exploring a buyout. It is our policy not to comment on any acquisition rumors.
With the ready availability of significant capital in private equity funds and Skechers attractiveness as a franchise, rumors and speculation are not surprising. Unfortunately, the kind of rumor contained in the article can be disruptive to our employees and customers and our business. Our focus is and continues to be the continued execution of our business to serve the interests of our customers and employees and create long-term value for our shareholders. Putting our customers first is our primary business strategy and we intend to continue to focus on this as always.”
