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Skechers Picks Up the Pace

TheMotleyFool 
0 0 21.07.17
Skechers Picks Up the PacePhoto, wide shot, wide-angle lens, Toy manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/2788fcd3-d339-4592-8f5c-a3b9125dc61f.png
 
Skechers Picks Up the Pace

Skechers (NYSE: SKX) is lacing up early this earnings season, and Thursday afternoon's report is shaping up to be a mixed bag. The footwear maker saw net sales in its second quarter climb 16.9% to $1.026 billion, well ahead of the $950 million to $975 million that it was targeting back in April. It's Skechers' headiest top-line gain in more than a year. Net sales had climbed in the single digits in three of the four previous periods.

The news wasn't as promising on the bottom line. Net earnings plunged 19.7% to $59.5 million, or $0.38 a share. This is the walking and athletic footwear giant's fifth consecutive quarter of posting a year-over-year decline in net income, but this time, Skechers fell woefully short of its earnings-per-share guidance of $0.42 to $0.47. 

Image source: Skechers.

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Source: Fool.com

Skechers U.s.a. Inc. Stock

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