K-Swiss Inc., the athletic-footwear maker, was lowered to ``sell' from ``neutral'' by analysts at Merrill Lynch & Co.
Analysts including New York-based Virginia Genereux wrote the company's brand turnaround ``would be difficult in any environment,'' in a research note, ``but particularly so today amid weakening retail sales and retail door closures.''
Merrill cut 2008 and 2009 earnings-per-share estimates from 31 cents and 30 cents, respectively, to 19 cents and 17 cents, ``putting us 33 percent and 64 percent below consensus,'' the analysts said.
The shares yesterday gained 62 cents, or 4 percent, to $15.95.
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