Why Skechers Stock Soared 88.7% in 2019
Shares of Skechers (NYSE: SKX) climbed 88.7% in 2019, according to data from S&P Global Market Intelligence, easily outpacing the S&P 500's 29% gain as the casual footwear specialist managed to successfully weather macroeconomic challenges and tariff concerns.
It certainly helped that Skechers stock had entered last year having plunged nearly 40% in 2018, including a 15% drop in December 2018 alone amid concerns over the effect slowing global economic growth might have on consumer discretionary names.
But Skechers' gain last year wasn't exactly a straight line up. After rallying nearly 50% from January through the end of March, shares pulled back almost 20% through the end of May as the company grappled with what CFO John Vandemore described as "challenging conditions" that left first-quarter revenue up a weaker-than-expected 2.1%.
Source Fool.com
