3 Things Skechers Management Wants You to Know
Walking shoe company, Skechers (NYSE: SKX), announced its third record revenue quarter in a row. Investors are wondering if the company is back to consistent growth as there was a lot to like in the
Skechers saw solidly positive growth in both the domestic wholesale and the company-owned retail segments. The domestic wholesale business had an increase in pairs sold of 11.4% resulting in 6.4% revenue increase. Domestic company-owned stores saw 14.5% revenue increase, on positive same store sales of 7.1%.
For the second half, the company is admittedly conservative in projecting flat year-over-year sales and is cautiously optimistic about the back-to-school selling season with the positive results in the July sales numbers. While management recognizes that the domestic retail market is still uncertain, David Weinberg, chief financial officer, and chief operating officer explained that the company's products provide it an advantage.
Source: Fool.com