Shoemaker Skechers (SKX) Thursday reported fourth-quarter revenue of $1.08 billion, up 11.4% year-over-year, helped by an 18.4% increase in the international wholesale business. The top line narrowly missed analysts’ expectation of $1.1 billion.
In Q4, comparable same-store sales in its retail stores, including e-commerce, rose 1.1%, including a 3% increase in its international stores and a modest 0.4% hike in the United States.
Meanwhile, net income increased to 31 cents per share from 21 cents per share a year ago, beating analysts projection of 23 cents per share. On a reported basis, the company swung to a profit of 31 cents per share, from a loss of 43 cents per share in the same quarter last year.
SKX shares jumped 13% during aftermarket trading. The stock has declined by about 33% in the past 12 months.
COO David Weinberg said, “For the quarter, this growth was fueled by double-digit sales increases in each of our international businesses—Company-owned retail, distributor, subsidiary and joint venture, and by single-digit sales increases in both our domestic wholesale and retail businesses.”
For the first quarter of 2019, the Manhattan Beach, California-based firm expects sales in the range of $1.275 billion to $1.300 billion and diluted EPS between $0.70 and $0.75.
Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections. Global comparable store sales increased
Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search
Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,