Skechers has announced the appointment of BDO USA as the company's new independent auditors, replacing KPMG which resigned after the discovery of unlawful activities by one of its partners. Skechers points out the resignation was not related to its financial statements, but nevertheless, BDO will re-audit the company's statements for the past two years. It will also review the results for the first quarter, which should show a loss of 7 cents a share due to foreign exchange and coverage of past inventory clearance activities for toning shoes. The company should report a big increase in sales to between $440 and $450 million for the period, up from $351.3 million a year ago.

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