Shares in Skechers U.S.A. Inc. dropped nearly 6 percent early Tuesday after the Manhattan-based shoe and apparel retailer was downgraded by an investment firm.

Analyst Jeff Mintz at Wedbush Morgan Securities downgraded company shares from a “strong buy” but still maintained a “buy” rating.

Mintz said in his research report that a “difficult” retail environment, shifting trends toward more athletic shoe styles and continued economic pressures on consumers will pinch the company’s profit for the rest of the year.

However, Mintz added that “given the company’s rapid shift into new looks, we do not expect this transition to have a significant or long-lasting impact.”

At the end of April, Skechers posted a 37 percent increase in first-quarter profit thanks to a weak dollar and strong international sales.

Shares in Skechers dipped 5.6 percent to $21.01 in early trading Tuesday.