Financial Data and Key Metrics Changes - The company reported record second-quarter sales of $2.16 billion, an increase of 7.2% year-over-year, or $145 million compared to last year [8][19] - On a constant currency basis, sales increased by 8.7% to $2.19 billion [8][19] - Gross margins improved to 54.9%, a 220 basis point increase from the previous year [19][25] - Earnings per share were $0.91, a 7.1% decrease compared to the prior year, but $0.97 on a constant currency basis [27][19] Business Line Data and Key Metrics Changes - Direct-to-consumer sales grew by 9.2% year-over-year, exceeding $1 billion for the first time in the company's history [21][16] - Domestic direct-to-consumer sales increased by 1.4%, while international sales rose by 15% [21][16] - Wholesale sales increased by 5.5% year-over-year, driven by a 14% increase in domestic wholesale [23][19] Market Data and Key Metrics Changes - Domestic sales increased by 7.7%, while international sales grew by 6.9%, representing 60% of total sales [14][19] - By region, sales in the Americas increased by 7.2%, EMEA by 14%, and APAC by 2.2% [14][24] - In China, sales grew by 3.4% year-over-year, with a 7% increase on a constant currency basis [25][19] Company Strategy and Development Direction - The company announced a new $1 billion share repurchase plan, enhancing its existing program [8][29] - Skechers aims to achieve $10 billion in annual sales by 2026, focusing on expanding its direct-to-consumer segment and global brand presence [18][30] - The company is investing in local production in India to navigate regulatory hurdles and improve supply chain efficiency [15][49] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of 2024, citing strong order flow and consumer demand despite macroeconomic challenges [20][31] - The company is adjusting its full-year guidance upward due to improved visibility into the order book and continued positive consumer response to its products [20][19] - Management acknowledged challenges in the supply chain and regulatory environments but remains confident in the long-term growth potential [15][31] Other Important Information - The company ended the quarter with 5,267 Skechers branded stores worldwide, including 1,702 company-owned locations [17] - Capital expenditures for the quarter were focused on new store openings and direct-to-consumer technologies [28] - The company is actively addressing supply chain disruptions and inventory imbalances caused by increased transit times [15][27] Q&A Session All Questions and Answers Question: Can you explain the sources of the raise in guidance? - Management indicated that better visibility into the back half order book, particularly on the wholesale side, and strong order flow contributed to the raised guidance [34][35] Question: What are the expectations for consumer behavior in the footwear retail landscape? - Management noted a decline in foot traffic in brick-and-mortar stores but strong performance in e-commerce, indicating a shift in consumer purchasing behavior [39][40] Question: Can you elaborate on the impact of the regulatory environment in India? - Management acknowledged a significant impact from regulatory changes but expressed optimism about local production improvements and long-term opportunities in the market [49][50] Question: What are the expectations for wholesale growth in the back half of the year? - Management expects continued strength from direct-to-consumer sales and a strong domestic wholesale order book to drive growth in the second half [56][76] Question: How is the company addressing potential tariff impacts? - Management stated that while there is exposure to China, they are diversifying production and are prepared to react to any changes in the tariff landscape [78][79]

Skechers (SKX) reported $2.16 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 7.2%. EPS of $0.91 for the same period compares to $0.98 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.22 billion, representing a surprise of -2.75%. The company delivered an EPS surprise of -3.19%, with the consensus EPS estimate being $0.94.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...

Skechers (SKX) came out with quarterly earnings of $0.91 per share, missing the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.19%. A quarter ago, it was expected that this shoe company would post earnings of $1.10 per share when it actually produced earnings of $1.33, delivering a surprise of 20.91%.Over the last four quarters, the company has ...

SKECHERS ANNOUNCES SECOND QUARTER 2024 FINANCIAL RESULTS AND BOARD AUTHORIZED $1 BILLION SHARE REPURCHASE PROGRAM LOS ANGELES, CA – July 25, 2024 – Skechers U.S.A., Inc. ("Skechers" or the "Company") (NYSE:SKX), The Comfort Technology Company TM and a global footwear leader, today announced financial results for the second quarter ended June 30, 2024. Second Quarter Highlights "Skechers achieved a new second quarter sales record of $2.16 billion driven by the strong demand for our diverse portfolio of comfo ...

As Skechers U.S.A., Inc. (SKX) gears up to unveil its second-quarter 2024 earnings results on Jul 25 after market close, investors are eager to gauge the company's performance. Known for its innovative footwear and strong brand presence, Skechers has been navigating through changing market dynamics and evolving consumer preferences.The company is expected to register an increase in the top line, with the Zacks Consensus Estimate for revenues standing at $2,215 million, which indicates a notable 10% improvem ...

Wall Street analysts expect Skechers (SKX) to post quarterly earnings of $0.92 per share in its upcoming report, which indicates a year-over-year decline of 6.1%. Revenues are expected to be $2.21 billion, up 10% from the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Before a company announces its earnings, it is ess ...

Skechers (SKX) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this shoe company have returned -10.8%, compared to the Zacks S&P 500 composite's +2.1% change. During this period, the Zacks Shoes and Retail Apparel industry, which Skechers falls in, has lost 20.3%. The key question now is: What could be the stock's future direction?Although media re ...

EU and UK territories added to longtime licensing and distribution partnership NEW YORK, July 16, 2024 /PRNewswire/ -- United Legwear & Apparel Co., LLC (ULAC), a New York-based global designer, manufacturer, and distributor of legwear, apparel, and accessories, has announced an expansion of their 20-year licensing partnership with global lifestyle and performance footwear and apparel brand Skechers to include distribution in the European Union and the United Kingdom. The license will be managed in these tw ...

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Group 1: Analyst Recommendations - Skechers (SKX) has an average brokerage recommendation (ABR) of 1.25, indicating a consensus between Strong Buy and Buy, with 10 out of 12 recommendations being Strong Buy [1][2] - The ABR reflects that Strong Buy and Buy recommendations account for 83.3% and 8.3% of all recommendations, respectively [1] Group 2: Limitations of Brokerage Recommendations - Brokerage recommendations may not effectively guide investors towards stocks with the highest potential for price appreciation due to analysts' vested interests [2][3] - For every "Strong Sell" recommendation, brokerage firms tend to issue five "Strong Buy" recommendations, indicating a bias in their ratings [2][3] Group 3: Zacks Rank vs. ABR - Zacks Rank is a proprietary stock rating tool that categorizes stocks based on earnings estimate revisions, providing a more reliable indicator of future price performance compared to ABR [3][5] - The Zacks Rank is timely and reflects the latest earnings estimate revisions, while ABR may not always be up-to-date [5] Group 4: Earnings Estimates for Skechers - The Zacks Consensus Estimate for Skechers has increased by 0.2% over the past month to $4.08, indicating growing optimism among analysts regarding the company's earnings prospects [6] - The increase in the consensus estimate, along with other factors, has resulted in a Zacks Rank 2 (Buy) for Skechers, suggesting a positive outlook for the stock [6]