Is Skechers Stock a Buy?
Over the years, Nike (NYSE: NKE) has turned itself into a style icon by signing on big-name athletes to help sell shoes, but Skechers (NYSE: SKX) is an international sensation in its own right. Up until the novel coronavirus outbreak, annual sales had been averaging a low-teens percentage growth rate for years -- led by high demand in emerging markets and the company's brand of chunky sneakers featuring bulky soles. There's even a song called "Skechers" that's nearing 100 million views on YouTube. Nike may have Michael Jordan and LeBron James, but Skechers has DripReport.
Whether it's your jam or not, it's hard to deny that Skechers has gone from quirky shoemaker upstart to legit lifestyle company. But a growth story alone doesn't make a stock a buy. After all, fashion is notoriously fickle. Nevertheless, Skechers has the financial strength to back up its position as it tries to remain an enduring part of global urban culture.
A Skechers store in China. Image source: Skechers.
Source Fool.com
