Skechers record revenues not enough as shares slide

Skechers tripped up in overnight trading as the trainer maker missed Wall Street forecasts in its latest quarter even though sales hit a new record. Revenue in the three months to end December rose to US$1.96 billion, with gross margin also hitting a record at 53.1%, driven by the direct-to-consumer segment, said David Weinberg, chief operating officer. International sales were especially strong in the quarter, said Weinberg, rising by 6.9% compared to a 4.4% rise overall. Total sales for the year hit US$8 ...