Core Insights - Skechers U.S.A., Inc. reported first-quarter 2025 results with a revenue miss but earnings beat, leading to a 6.5% decline in shares due to withdrawn full-year guidance amid economic uncertainty [1][4]. Financial Performance - Earnings per share were $1.34, exceeding the Zacks Consensus Estimate of $1.17, with a year-over-year increase of 0.8% [4]. - Total sales reached $2.41 billion, missing the consensus estimate of $2.44 billion, but reflecting a 7.1% year-over-year growth driven by domestic and international sales increases of 6.9% and 7.2%, respectively [4][5]. - Wholesale sales increased 7.8% to $1.53 billion, while direct-to-consumer (DTC) sales rose 6% to $879.4 million [5]. Regional Performance - Sales in the Americas increased 8.3% to $1.10 billion, EMEA sales rose 14.4% to $718.2 million, while APAC sales decreased 2.6% to $589 million [7]. Margin and Cost Analysis - Gross profit increased 6.2% to $1.25 billion, with a gross margin decrease of 50 basis points to 52% due to lower average selling prices [9]. - Total operating expenses grew 12.1% to $989.2 million, representing 41% of sales, an increase of 180 basis points [9][10]. Cash and Financial Health - As of March 31, 2025, cash and cash equivalents totaled $993.1 million, with long-term borrowings of $82.4 million and shareholders' equity of $4.51 billion [11]. Store Expansion - Skechers operated 5,318 stores as of March 31, 2025, with 13 new domestic stores and 38 international stores opened during the first quarter [12].