Why Skechers Stock Dropped Like a Rock Today

Shares of shoe company Skechers (NYSE: SKX) dropped like a rock on Friday after the company reported financial results for the fourth quarter of 2024. As of 3:45 p.m. ET, Skechers stock was down about 13%.

In Q4, Skechers had sales of $2.21 billion, which was up 13% year over year and toward the high end of management's guidance but slightly below expectations. On the bottom line, things were a little more troubling. Management expected Q4 earnings per share (EPS) of $0.70 to $0.75, but the business only mustered EPS of $0.65.

To be clear, Skechers grew by double digits in 2024 and hit all-time sales records. And in 2025, it expects to grow at least another 8% to $9.7 billion. That's still good growth. But it is slowing.

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Source Fool.com