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Why Skechers Stock Skyrocketed to an All-Time High Today
The Motley Fool· 2024-04-26 15:43
The footwear company delivered record quarterly results.Shares of shoe company Skechers (SKX 13.75%) skyrocketed to an all-time high Friday after the company announced record financial results for the first quarter. As of 10:20 a.m. ET, Skechers stock was up almost 17%.A record start to the new yearIn Q1, Skechers' sales surged by nearly 13% to $2.25 billion. The bigger growth driver was its direct-to-consumer sales channel. That's significant because direct-to-consumer sales are considerably higher-margin ...
Skechers(SKX) - 2024 Q1 - Earnings Call Transcript
2024-04-26 01:40
Skechers U.S.A., Inc. (NYSE:SKX) Q1 2024 Earnings Conference Call April 25, 2024 4:30 PM ET Company Participants Karen Lozano - General Manager of Store 2 David Weinberg - Chief Operating Officer John Vandemore - Chief Financial Officer Conference Call Participants Jay Sole - UBS Laurent Vasilescu - BNP Paribas Jim Duffy - Stifel Krista Zuber - TD Cowen Rick Patel - Raymond James Adrienne Yih - Barclays Tom Nikic - Wedbush Jesalyn Wong - Evercore Chris Nardone - Bank of America Alex Straton - Morgan Stanley ...
Skechers (SKX) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Zacks Investment Research· 2024-04-26 00:36
Skechers (SKX) reported $2.25 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 12.5%. EPS of $1.33 for the same period compares to $1.02 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.19 billion, representing a surprise of +2.98%. The company delivered an EPS surprise of +20.91%, with the consensus EPS estimate being $1.10.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...
Skechers (SKX) Q1 Earnings and Revenues Top Estimates
Zacks Investment Research· 2024-04-25 22:26
Skechers (SKX) came out with quarterly earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.10 per share. This compares to earnings of $1.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.91%. A quarter ago, it was expected that this shoe company would post earnings of $0.52 per share when it actually produced earnings of $0.56, delivering a surprise of 7.69%.Over the last four quarters, the company has ...
Skechers(SKX) - 2024 Q1 - Quarterly Results
2024-04-25 20:15
LOS ANGELES, CA – April 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 first quarter ended March 31, 2024. First Quarter Highlights Exhibit 99.1 SKECHERS ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS AND RECORD SALES OF $2.25 BILLION "For the first quarter, Skechers achieved a new sales record of $2.25 billion, EPS of $1.33, gross margins of 52.5% and an operating margin of ...
Factors Likely to Influence Skechers' (SKX) Q1 Earnings
Zacks Investment Research· 2024-04-23 15:40
Skechers U.S.A., Inc. (SKX) is likely to register an increase in the top line when it reports first-quarter 2024 earnings results on Apr 25 after market close. The Zacks Consensus Estimate for revenues is pegged at $2,188 million, which indicates an improvement of 9.3% from the prior-year reported figure.The company, renowned for its design, marketing and distribution of footwear, apparel and accessories, is expected to observe a year-over-year increase in its bottom line. The Zacks Consensus Estimate for f ...
Here's Why Skechers (SKX) is a Strong Value Stock
Zacks Investment Research· 2024-04-23 14:41
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style S ...
Wall Street's Insights Into Key Metrics Ahead of Skechers (SKX) Q1 Earnings
Zacks Investment Research· 2024-04-23 14:21
Analysts on Wall Street project that Skechers (SKX) will announce quarterly earnings of $1.10 per share in its forthcoming report, representing an increase of 7.8% year over year. Revenues are projected to reach $2.19 billion, increasing 9.3% from the same quarter last year.Over the last 30 days, there has been a downward revision of 1.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts ov ...
Skechers (SKX) Drives Growth via Innovation & Market Expansion
Zacks Investment Research· 2024-04-15 16:16
Skechers' (SKX) success story hinges on robust demand for its comfort technology products and enhanced digital capabilities. A diverse range of footwear across various categories like fashion, athletic, non-athletic and work footwear allows it to capture the market and attract customers from different demographic profiles. Its initiative of introducing products keep it relevant in a constantly evolving industry.SKX has been always dedicated to maintaining a balance between style, comfort, innovation and qua ...
Here's Why Skechers (SKX) Outpaces Its Industry in a Year
Zacks Investment Research· 2024-04-09 15:46
Skechers U.S.A., Inc. (SKX) leverages a varied product mix that spans fashion, athletic, casual and work footwear, anchoring its robust market presence and appeal across diverse consumer segments. Its commitment to delivering comfort-oriented footwear resonates with prevailing consumer preferences.The company's strategies, which include a multi-brand approach, the expansion of its global retail footprint, embracing digital initiatives and enhancing direct-to-consumer (DTC) channels, along with adept financi ...