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Takeaway: Removing SKX from our short bench.

EVENTS TO WATCH

Retail Callouts (4/23): SKX, TJX, ZQK, SPLS, EBAY - 4 20 chart2

COMPANY HIGHLIGHTS

SKX - Removing From Short Bench

Takeaway: We’re removing SKX from our Short Bench. We added the name to the Bench on Monday after we flagged it as a negative on our SIGMA screen this past week. As a reminder, this analysis triangulates the P&L and balance sheet to hone in on which companies are likely to beat on the Gross Margin line, and of course...which companies are going to miss. We were looking for 1) the SIGMA trajectory coming out of 1Q15 and 2) the quality of the print. Both of which looked good enough for us to pull this name off our radar screen on the short side for now.

Retail Callouts (4/23): SKX, TJX, ZQK, SPLS, EBAY - 4 23 chart1

OTHER NEWS

EBAY - Ebay lays out post-split vision for marketplace and PayPal

(http://www.ft.com/intl/cms/s/0/be5f96a4-e92c-11e4-b7e8-00144feab7de.html#axzz3Y85swnQj)

TJX - TJX chairman Cammarata to retire, CEO Meyrowitz will succeed him

(http://www.chainstoreage.com/article/tjx-chairman-cammarata-retire-ceo-meyrowitz-will-succeed-him)

ZQK - Quiksilver Investor Renews Calls for Retailer to Pursue Sale

(http://www.bloomberg.com/news/articles/2015-04-22/quiksilver-investor-urges-retail-chain-to-put-itself-up-for-sale)

SPLS - Staples Acquires Makr to Make More Design Services Happen

(http://investor.staples.com/phoenix.zhtml?c=96244&p=irol-newsArticle&ID=2039135)

ABG Acquires Jones New York And Taps Mark Weber, Former CEO LVMH, Inc., As Strategic Advisor

(http://www.prnewswire.com/news-releases/abg-acquires-jones-new-york-and-taps-mark-weber-former-ceo-lvmh-inc-as-strategic-advisor-300070947.html)

Bill Langsdorf Named to Lead Former Wet Seal

(http://wwd.com/business-news/human-resources/bill-langsdorf-lead-former-wet-seal-10115497/)

Kering - Puma Appoints General Manager for EMEA

(http://wwd.com/business-news/human-resources/puma-appoints-general-manager-for-emea-10115485/)

M - Macy's gets intimate with Heidi Klum

(http://www.retailingtoday.com/article/macys-gets-intimate-heidi-klum)

Ikea changes the rules on high-tech furnishings

(http://www.retailingtoday.com/article/ikea-changes-rules-high-tech-furnishings)

Metro interested in some Target Canada stores

(http://www.chainstoreage.com/article/metro-interested-some-target-canada-stores)

Sears Hometown and Outlet CEO to leave Aug. 1

(http://www.retailingtoday.com/article/sears-hometown-and-outlet-ceo-leave-aug-1)