Skechers (SKX) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.69%. A quarter ago, it was expected that this shoe company would post earnings of $0.78 per share when it actually produced earnings of $0.93, delivering a surprise of 19.23%.Over the last four quarters, the company has ...

Shares of Skechers USA Inc. fell 10.8% in extended trading Thursday after the comfort-footwear maker reported weaker-than-expected fourth-quarter sales amid a decline in its wholesale business. The company reported revenue of $1.96 billion, an increase of 4.4% on the prior year’s quarter. Net income was $87.2 million, or 56 cents a share, compared with $75.5 million, or 48 cents a share, in the prior year’s quarter. On an adjusted basis, Skechers SKX, +1.86% earned 48 cents a share. Analysts surveyed by ...

Core Insights - Skechers reported record annual sales of $8.00 billion for 2023, reflecting a year-over-year increase of 7.5% [2][8] - Direct-to-Consumer sales grew significantly by 24.3%, while Wholesale sales decreased by 2.8% [10][11] - The company achieved diluted earnings per share of $3.49, a substantial increase of 46.6% compared to the previous year [2][11] Full Year 2023 Financial Results - Total sales reached $8,000.3 million, up from $7,444.5 million in 2022, marking a $555.8 million increase [8][11] - Gross profit for the year was $4,152.4 million, an increase of $637.0 million or 18.1% from the prior year [8][11] - Gross margin improved to 51.9%, up 470 basis points from 2022 [8][11] - Operating expenses increased by $398.9 million or 13.4%, resulting in an operating margin of 9.8% [11][12] - Net earnings attributable to Skechers U.S.A., Inc. were $545.8 million, a 46.3% increase from $373.0 million in 2022 [11][12] Fourth Quarter 2023 Highlights - Fourth quarter sales reached $1.96 billion, a 4.4% increase year-over-year [3][4] - Direct-to-Consumer sales in Q4 grew by 20.3%, while Wholesale sales decreased by 8.3% [5][6] - Gross margin for the fourth quarter was 53.1%, an increase of 470 basis points compared to the same quarter in 2022 [4][5] - The company repurchased $60 million of Class A common stock during the fourth quarter [3][13] Regional Performance - In Q4, Asia Pacific sales grew by 15%, driven by double-digit growth in China, while the Americas grew by 3% and EMEA decreased by 7% [3][5] - For the full year, international sales increased by 13.3%, while domestic sales saw a slight decline of 0.8% [10][11] Outlook for 2024 - The company anticipates sales between $8.60 billion and $8.80 billion for fiscal year 2024, with diluted earnings per share projected between $3.65 and $3.85 [14] - Capital expenditures for 2024 are expected to be between $350 million and $400 million, including the construction of a new distribution center in China [14]

Skechers U.S.A., Inc. (SKX) is likely to register top-line growth when it reports fourth-quarter 2023 earnings on Feb 2, after market close. The Zacks Consensus Estimate for quarterly revenues is pegged at $2,013 million, indicating a rise of 7.2% from the prior-year quarter’s reported figure.The consensus estimate for fourth-quarter earnings per share is pegged at 52 cents, suggesting an increase of 8.3% from the year-ago period’s actual. This estimate has been increased by a couple of cents over the past ...

Wall Street analysts forecast that Skechers (SKX) will report quarterly earnings of $0.52 per share in its upcoming release, pointing to a year-over-year increase of 8.3%. It is anticipated that revenues will amount to $2.01 billion, exhibiting an increase of 7.2% compared to the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 1.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed the ...

Skechers U.S.A., Inc.’s (SKX) entrance into sports categories and strategic alliances underscore its commitment to innovation and adaptability in the market. These efforts reflect a pro-active strategy to capture market segments and respond to changing consumer tastes.Management’s strategic vision is clear in its efforts to leverage the increasing demand for comfort technology products, establishing Skechers as the preferred brand for consumers seeking style and functionality. Additionally, SKX's investment ...

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LOS ANGELES--(BUSINESS WIRE)--Pet lovers, give a round of paws for the two talented winners of Skechers’ Paws for a Cause Design Scholarship! The brand is awarding Southern California juniors Teeny Nadeau of Cal State Fullerton and Maki Shigetani of USC with tuition funds and corporate mentorships, and will produce their creative animal prints on a key BOBS from Skechers® style as part of a limited-edition collection in June 2024. Both winners’ patterns were inspired by personal experiences with their ad ...

Investors have mixed ideas about how much valuation should affect their stock-buying decisions. If everything about a company sounds amazing, should a rich valuation matter?I would break valuation down into three categories. There are some astronomical valuations that simply scream, "Don't buy right now." With expectations that high, the market is bound to be disappointed at some point, sending the stock plunging. Then, there are those in the middle where the valuation is high but not outrageous, and that c ...

Skechers U.S.A., Inc.’s (SKX) expansion into new sports categories and strategic collaborations showcase its commitment to innovation and market adaptability. This move represents a proactive approach to tapping new market segments and catering to evolving consumer preferences.The company's strategic foresight is evident in its ability to capitalize on the burgeoning demand for comfort technology products, solidifying its position as a go-to choice for consumers seeking style and functionality. SKX 's inves ...