斯凯奇全球首席执行官Robert Greenberg认为："三十余年来，斯凯奇始终专注于提供舒适、创新、时尚 且价格合理的高品质产品，这已成为品牌成功的基石。第一季度创纪录的销售额充分印证了品牌的强大 韧性，见证全球市场的广泛需求。当前，斯凯奇差异化的价值主张将愈发重要。" 斯凯奇全球首席财务官John Vandemore也称："第一季度的业绩表现反映了斯凯奇全球业务的持续强 劲，彰显品牌创新舒适科技产品以及独特价值主张的巨大吸引力。我们依然对自身应对当前市场挑战的 能力充满信心。凭借过往在全球范围管理这一多元化品牌的成功经验，以及品牌独特而富有竞争力的产 品组合，斯凯奇将在这一时期保持坚韧，并有望蓬勃发展。" 2025年斯凯奇回归舒适初心，立足"舒适科技"核心战略定位，为全年龄段消费者提供全方位的舒适体 验，致力于通过全民运动生态建设，推动健康生活方式普及，赋能中国市场的长远发展。 斯凯奇中国 合伙人，斯凯奇中国、韩国及东南亚首席执行官陈伟利表示："中国市场对斯凯奇而言有着重要的战略 地位，我们始终对其增长潜力保持充分信心，并恪守'在中国，为中国'承诺。我们将不断加大对产品创 新、营销升级和供应链优化的投入 ...

Financial Data and Key Metrics Changes - The company achieved record first-quarter sales of $2.41 billion, representing a 7.1% increase year-over-year, and $2.46 billion on a constant currency basis, up 9% [8][27] - Earnings per share were $1.34, essentially flat compared to the prior year [34] - Gross margin was 52%, down 50 basis points from the previous year, primarily due to lower average selling prices from higher promotions in certain markets [31] - Operating expenses increased 180 basis points as a percentage of sales to 41% [32] Business Line Data and Key Metrics Changes - Direct-to-consumer sales grew 6% year-over-year to $879.4 million, with domestic growth of 11% driven by strong e-commerce performance [27][17] - Wholesale sales increased 7.8% year-over-year to $1.53 billion, with international sales up 9.5% [28][16] - The domestic wholesale growth reflected broad-based demand across kids, men's, and women's categories [16] Market Data and Key Metrics Changes - Domestic and international sales both increased by 7%, with EMEA growing 14% and The Americas growing 8.3% [9][14] - In APAC, sales decreased by 2.6%, primarily due to soft consumer spending in China, but grew 12% when excluding China [10][30] - EMEA sales for the first quarter increased 14% year-over-year to $718.2 million [29] Company Strategy and Development Direction - The company views international markets as its primary growth engine, with 65% of total business coming from international sales [9][21] - Investment priorities focus on expanding distribution centers, enhancing product offerings, and growing direct-to-consumer capabilities [20][21] - The company aims to navigate current macroeconomic uncertainties by leveraging its brand strength and global market position [21][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating current challenges, citing a strong demand for Skechers products globally [26][38] - The company acknowledged the uncertainty in the macroeconomic environment but remains optimistic about growth opportunities, particularly in international markets [31][38] - Management emphasized the importance of flexibility in sourcing and production to adapt to changing market conditions [92][108] Other Important Information - The company ended the quarter with $1.24 billion in cash and cash equivalents, maintaining liquidity of $1.85 billion [35] - Inventory increased by 30% year-over-year to $1.77 billion, primarily due to elongated transit times [35][36] - Capital expenditures for the quarter were $147.1 million, focusing on distribution infrastructure and new store openings [36] Q&A Session Summary Question: Discussion on tariff situation and production in China - Management indicated that they are actively pursuing cost-sharing, sourcing optimization, and pricing adjustments to address tariff impacts, with a focus on minimizing production from high-cost locations [49][50] Question: Market volatility and consumer demand - Management noted that while there is uncertainty in the U.S. and China markets, consumer demand for Skechers products remains robust, particularly in international markets [60][62] Question: Inventory management and pricing strategy - Management is closely managing inventory levels and is prepared to adjust pricing strategies based on market conditions, emphasizing the importance of consumer perception [78][97] Question: Sourcing and production flexibility - Management confirmed that they are exploring flexible sourcing options and optimizing production locations to mitigate tariff impacts, with a focus on maintaining quality and cost-effectiveness [92][108]

Financial Data and Key Metrics Changes - The company achieved record first-quarter sales of $2.41 billion, a 7.1% increase year-over-year, and $2.46 billion on a constant currency basis, up 9% [8][27] - Earnings per share were $1.34, essentially flat compared to the prior year [34] - Gross margin was 52%, down 50 basis points from the previous year, primarily due to lower average selling prices from higher promotions in certain markets [31] Business Line Data and Key Metrics Changes - Direct-to-consumer sales grew 6% year-over-year to $879.4 million, with domestic growth of 11% driven by strong e-commerce performance [27][17] - Wholesale sales increased 7.8% year-over-year to $1.53 billion, with international sales up 9.5% [28][16] - The company ended the quarter with 5,318 Skechers stores worldwide, including 1,821 company-owned locations [18] Market Data and Key Metrics Changes - Domestic and international sales both increased by 7%, with EMEA growing 14% and The Americas growing 8.3% [9][14] - In the Asia Pacific region, sales decreased by 2.6%, primarily due to soft consumer spending in China, but grew 12% when excluding China [10][30] Company Strategy and Development Direction - The company views international markets as its primary growth engine, investing in retail store networks and enhancing distribution efficiencies [10][21] - Skechers aims to expand its distribution centers in the U.S., China, and Europe to manage expected growth and improve delivery efficiency [20][21] - The company is focused on evolving and innovating its footwear to meet consumer needs and drive demand globally [21][42] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increasing macroeconomic uncertainty and waning consumer sentiment but expressed confidence in navigating these challenges [9][26] - The company remains committed to its strategic plan and believes it is well-positioned to thrive despite current market dynamics [26][42] - Management did not provide specific revenue or earnings guidance due to the dynamic environment but remains optimistic about growth opportunities [39][38] Other Important Information - Inventory increased by 30% year-over-year to $1.77 billion, primarily due to elongated transit times, but decreased by 7.6% compared to the prior quarter [35][36] - Capital expenditures for the quarter were $147.1 million, focusing on distribution infrastructure and new store openings [36] Q&A Session Summary Question: Can you discuss the company's production in China and tariff strategies? - Management emphasized that they are looking at sourcing optimization, vendor cost sharing, and pricing adjustments to manage tariffs, with two-thirds of the business being outside the U.S. [49][51] Question: What markets are experiencing notable volatility? - The U.S. and China are noted as presenting the most uncertainty, with robust consumer demand for Skechers products remaining strong in most other markets [60][62] Question: How do you view the potential for price increases in response to tariffs? - Management indicated that pricing is being considered but will depend on consumer receptiveness and the overall impact on the business [78][80] Question: What is the company's approach to inventory management amidst tariff changes? - The company is managing inventory closely, with a focus on minimizing at-risk inventory and ensuring high fidelity to delivery [97][99] Question: Are there specific products that are currently made in China and not in Vietnam? - Management noted that most kids' footwear is produced in China due to quality and cost considerations, but they have the ability to back up production in multiple locations [145]

Market Performance - Markets closed higher for the third consecutive session, with the Dow up 486 points (+1.23%), S&P 500 up 108 points (+2.03%), Nasdaq up 457 points (+2.74%), and Russell 2000 up 38 points (+2.00%) [1] - The indexes have increased between +2% to nearly +5% this week, despite initial concerns regarding Jerome Powell's position as Fed Chair [1] Key Stocks - The "Magnificent 7" stocks, including NVIDIA (NVDA), Amazon (AMZN), Tesla (TSLA), and Microsoft (MSFT), all rose over +3% during the session, although they remain down year-to-date, with Microsoft down -8% and Tesla down -35% [2] Economic Reports - Existing Home Sales for March were reported at 4.02 million units, below the anticipated 4.13 million and February's 4.27 million, indicating a continued housing market challenge [3] - Durable Goods Orders for March increased by +9.2%, significantly surpassing the estimated +1.6%, suggesting businesses may be pulling forward orders ahead of tariff announcements [4] - Initial Jobless Claims remained stable at 222K, reflecting a relatively calm labor market despite recent layoffs [4] Q1 Earnings Reports - Alphabet (GOOGL) reported Q1 earnings of $2.81 per share, exceeding the expected $2.02, with revenues of $76.50 billion compared to the $75.53 billion consensus [5] - Alphabet's cloud revenues reached $12.26 billion, up from $9.57 billion year-over-year, and YouTube ad revenue grew by 90 basis points to +8.93% [6] - GOOGL's shares rose +5% in after-market trading following a +2.5% increase prior to the earnings release, although it remains down roughly -10% year-to-date [6] Other Company Earnings - Intel (INTC) reported Q1 earnings of +$0.13 per share, surpassing the expected $0.01, with revenues of $12.7 billion, slightly above the $12.3 billion estimate [7] - Despite outperforming expectations, Intel's shares fell -5% in late trading due to a pullback in next-quarter guidance [7] - Skechers (SKX) reported Q1 earnings of $1.34 per share, beating the expected $1.18, but revenues of $2.41 billion fell short of the $2.44 billion projection, leading to an -8% decline in shares [8]

Core Insights - Skechers reported revenue of $2.41 billion for the quarter ended March 2025, reflecting a year-over-year increase of 7.1% [1] - The earnings per share (EPS) was $1.34, slightly up from $1.33 in the same quarter last year, with an EPS surprise of +14.53% against the consensus estimate of $1.17 [1] Revenue Performance - Geographic Revenue in Asia Pacific was $589 million, down 2.6% year-over-year and below the estimated $618.58 million [4] - Domestic Wholesale sales reached $496.20 million, representing a 4.2% increase year-over-year, but below the average estimate of $533.12 million [4] - Domestic Direct-to-Consumer sales were $357.50 million, exceeding the estimate of $335.74 million with a year-over-year growth of 10.8% [4] - Revenue from Europe, Middle East & Africa was $718.20 million, up 14.4% year-over-year and above the estimated $708.61 million [4] - International Direct-to-Consumer sales were $521.90 million, slightly below the estimate of $543.09 million, with a year-over-year increase of 2.9% [4] - Revenue from the Americas was $1.10 billion, reflecting an 8.3% year-over-year increase but below the estimated $1.12 billion [4] - International Wholesale sales were $1.04 billion, slightly above the estimate of $1.03 billion, with a year-over-year growth of 9.6% [4] - Total Wholesale sales amounted to $1.53 billion, a 7.8% increase year-over-year, but below the average estimate of $1.55 billion [4] - Total Direct-to-Consumer sales were $879.40 million, a 6% increase year-over-year, but below the estimate of $885.27 million [4] Stock Performance - Skechers shares have returned -14.8% over the past month, compared to a -5.1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Skechers reported quarterly earnings of $1.34 per share, exceeding the Zacks Consensus Estimate of $1.17 per share, and showing a slight increase from $1.33 per share a year ago, resulting in an earnings surprise of 14.53% [1] - The company posted revenues of $2.41 billion for the quarter ended March 2025, which was 1.17% below the Zacks Consensus Estimate, but an increase from $2.25 billion year-over-year [2] - Skechers shares have declined approximately 27.3% year-to-date, contrasting with the S&P 500's decline of 8.6% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.97 on revenues of $2.36 billion, and for the current fiscal year, it is $4.42 on revenues of $9.72 billion [7] - The estimate revisions trend for Skechers is mixed, leading to a Zacks Rank of 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Shoes and Retail Apparel industry, to which Skechers belongs, is currently ranked in the bottom 9% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of Skechers may be influenced by the overall industry outlook, as historical data shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8] Competitor Insights - Steven Madden, a competitor in the same industry, is expected to report quarterly earnings of $0.46 per share, reflecting a year-over-year decline of 29.2%, with revenues projected at $561.97 million, a 1.7% increase from the previous year [9][10]

Sales Performance - Record quarterly sales of $2.41 billion, a year-over-year increase of 7.1%, with international sales representing 65% of total sales [2] - Total sales for Q1 2025 reached $2,411.6 million, an increase of 7.1% compared to $2,251.6 million in Q1 2024 [21] - Direct-to-Consumer sales increased to $879.4 million in Q1 2025, a rise of 6.0% from $829.9 million in Q1 2024 [23] - Wholesale sales grew to $1,532.2 million in Q1 2025, representing a 7.8% increase from $1,421.7 million in Q1 2024 [23] Profitability - Gross profit reached $1.25 billion, with a gross margin of 52.0%, a decrease of 50 basis points from the previous year [4] - Gross profit for Q1 2025 was $1,254.4 million, up from $1,181.6 million in Q1 2024, reflecting a growth of 6.2% [21] - Net earnings attributable to Skechers were $202.4 million, with diluted earnings per share of $1.34 [8] - Net earnings attributable to Skechers U.S.A., Inc. for Q1 2025 were $202.4 million, a decrease of 13.9% from $206.6 million in Q1 2024 [26] - Diluted earnings per share for Q1 2025 were $1.34, compared to $1.33 in Q1 2024, reflecting a slight increase [26] Expenses and Liabilities - Operating expenses increased by $106.4 million, or 12.1%, with selling expenses rising by 18.3% [7] - Total liabilities decreased to $3,573.9 million as of March 31, 2025, compared to $3,635.5 million as of December 31, 2024 [19] Cash and Inventory - Cash, cash equivalents, and investments totaled $1.24 billion, a decrease of 10.4% from the previous quarter [11] - Cash and cash equivalents decreased to $993.1 million as of March 31, 2025, from $1,116.5 million as of December 31, 2024 [19] - Inventory decreased by $145.6 million, or 7.6%, to $1.77 billion [11] Guidance and Economic Outlook - The company is not providing financial guidance due to macroeconomic uncertainty and has withdrawn its annual 2025 guidance [12]

As Skechers U.S.A., Inc. (SKX) gears up to unveil its first-quarter 2025 earnings results on April  24, after the market closes, 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. The Zacks Consensus Estimate for revenues stands at $2.44 billion, which indicates a notable 8.3% improve ...

Group 1: Earnings Season Overview - The earnings season has commenced, with several consumer-facing companies, including Chipotle Mexican Grill (CMG), American Airlines (AAL), and Skechers (SKX), scheduled to report this week [1] - Guidance from these companies will be critical in assessing the state of the consumer and their post-earnings stock performance [1][8] Group 2: Chipotle Mexican Grill (CMG) - CMG shares have declined nearly 25% in 2025, underperforming the S&P 500, with negative EPS revisions leading to a Zacks Consensus EPS estimate of $0.28, down nearly 10% since January [2] - Year-over-year growth is projected at 3.7%, with sales expected to increase by 8.5% to $2.9 billion, reflecting a 5% downward revision [3] - CMG has consistently posted double-digit percentage year-over-year sales growth, with the latest period showing sales of $2.8 billion, a 13% improvement [5] Group 3: American Airlines (AAL) - AAL's guidance will be a significant factor in its earnings release, especially following Delta Air Lines' (DAL) recent results, which indicated a cautious outlook due to economic uncertainty [10] - Analysts have reduced their EPS expectations for AAL, reflecting a broader theme of uncertainty that is likely to influence the stock's movement post-earnings [11][13] Group 4: Skechers (SKX) - SKX shares have dropped over 30% in 2025, following a strong multi-year performance, with analysts cutting EPS expectations by 23% to a current estimate of $1.18 [14][16] - Revenue expectations for SKX remain stable, with quarterly sales projected at $2.4 billion, while margins will be a key focus in the earnings report [16][19] - The stock has seen a decline of approximately 9% over the past two years, suggesting that much of the negative sentiment may already be reflected in the share price [19]

Analysts on Wall Street project that Skechers (SKX) will announce quarterly earnings of $1.18 per share in its forthcoming report, representing a decline of 11.3% year over year. Revenues are projected to reach $2.44 billion, increasing 8.3% from the same quarter last year.The current level reflects a downward revision of 3.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over ...