Why Skechers Stock Skyrocketed to an All-Time High Today

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 ...