Skechers temporarily suspends shipments to Russia

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Skechers USA Inc. SKX, +2.35% 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 SPX, +2.57% has gained 10%.

This article was originally published by Marketwatch.com. Read the original article here.

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