Sketchers’ Earnings Fall 45% on Store Closures
Sketchers (NYSE: SKX) announced fiscal first-quarter results Thursday evening that showed a dramatic impact from the temporary closures that have swept its global store footprint since mid-March.
Sales had been rising by nearly 10% for most of the quarter, management said, but that momentum was quickly halted as COVID-19 forced widespread social distancing efforts. That two-week period led to an overall revenue decline of 1% for the full quarter.
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Source Fool.com
