{
  "docId": "019dd923-622c-750b-8b99-4037ee85af93",
  "docSlug": "4c8f29888304",
  "documentTitle": "Skechers U.S.A., Inc. (SKX)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-07-19 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 24,
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  "slideType": "peer_benchmark",
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  "density": "dense",
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      "kind": "callout",
      "text": "Skechers' purchase commitments relative to LTM revenue are approximately 64% higher than that its peers as of their most recent fiscal year end. Moreover, Skechers' increase in relative purchase commitments since before COVID-19 (FY-2 for all) is over twice as high as that of others.",
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      "text": "Skechers’ purchase commitments relative to LTM revenue are approximately 64% higher than that its peers as of their most recent fiscal year end. Moreover, Skechers’ increase in relative purchase commitments since before COVID-19 (FY-2 for all) is over twice as high as that of others.",
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      "text": "Purchase Commitments / Revenue: 32%",
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      "text": "Source: SEC filings",
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      "text": "Comparison of Relative Purchase Commitments Versus Peers",
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      "text": "Skechers' Purchase Commitments Relative to LTM Revenue Greatly Exceed Those of Its Peers",
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      "evidence": "Direct comparison of Skechers against a peer group to highlight an outlier metric.",
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      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
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      "evidence": "The document presents various struggles faced by Skechers, including revenue slowdown and deteriorating profitability",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Development",
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      "position": 1,
      "objective": "Exposing Skechers' inventory issues",
      "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause",
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