Shares of Skechers USA Inc (NYSE:SKX) ended Monday session in green amid volatile trading. The shares closed up +0.29 points or 1.27% at $23.13 with 2.53 million shares getting traded. Post opening the session at $22.98, the shares hit an intraday low of $22.82 and an intraday high of $23.37 and the price vacillated in this range throughout the day. The company has a market cap of $3.59 billion and the numbers of outstanding shares have been calculated to be 133.32 million shares.
Skechers USA Inc (SKX) on September 14, 2016 announced that the Company has signed a new joint venture partnership for Israel with its current regional distributor, MGS Sport Trading Ltd. The joint venture, Skechers Footwear, Ltd., will enable SKECHERS to use its proven sales strategies and global infrastructure to aggressively expand the brand.
“As our distribution partner for 15 years, MGS Sport Trading has played a key role in our brand’s development throughout this region,” said Michael Greenberg, president of SKECHERS. “Over the years, they’ve built strong relationships with a network of accounts and have established our brand in the market. It’s a great time to take our business to the next level and discover the full scope of our brand’s potential.”
Added Adi Moliov, previous brand manager of MGS Sport Trading and now general manager of Skechers Footwear, Ltd., “International footwear brands are more popular than ever in Israel – in particular, stylish comfort footwear is in high demand – and we have a wonderful opportunity to boost SKECHERS’ presence. With SKECHERS’ increased investment in this region, solid infrastructure and extensive product offering for every age and activity, we can make a larger-than-ever impact. We’re thrilled to offer Israeli consumers a new generation of styles, retail destinations and campaigns showcasing their many brands.”
Shares of Philip Morris International Inc. (NYSE:PM) ended Monday session in red amid volatile trading. The shares closed down -0.02 points or -0.02% at $98.82 with 2.53 million shares getting traded. Post opening the session at $99.09, the shares hit an intraday low of $98.77 and an intraday high of $99.63 and the price vacillated in this range throughout the day. The company has a market cap of $151.90 billion and the numbers of outstanding shares have been calculated to be 1.55 billion shares.
Philip Morris International Inc. (PM) on September 15, 2016 announced that the response to PMI IMPACT, its new global funding initiative for third party projects dedicated to fighting smuggling and related crimes, has exceeded expectations with more than 200 expressions of interest submitted in the first funding round. PMI has pledged USD 100 million for three funding rounds.
“We are delighted to see that PMI IMPACT has been well-received and that a broad range of organizations recognized the need to join forces to eliminate illegal trade in its many forms. With the leadership of the Expert Council, PMI IMPACT will provide resources for the best proposals to bring innovative and lasting solutions,” stated Alvise Giustiniani, Vice President Illicit Trade Strategies & Prevention, of PMI.
The Expert Council comprises external independent experts with impeccable credentials in the fields of law, anti-corruption and law enforcement. The experts will evaluate the project proposals that are suitable for funding.
In total, 170 organizations including government agencies, universities and research institutes, NGOs, and private entities have proposed more than 200 projects under three focus areas: research, education and awareness, and action. Submissions come from 42 countries, primarily in Europe and North America.
For its first funding round, PMI IMPACT called for projects that could have an impact on illegal trade and related crimes in the European Union. Organizations based anywhere in the world were invited to apply, as long as they could demonstrate an impact within the EU, including an impact on the illegal tobacco trade.
Expressions of interest will now go through due diligence checks and quality assessment by the Expert Council. Applicants that pass this stage will be invited to submit their full proposals. The selection process will be completed by Q2 2017.