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.
Shares of KB Home (NYSE: KBH) were up slightly on Friday. The stock has dropped 40% year-to-date and 35% over the past 12 months. The company delivered mixed results for
Warehouse behemoth Costco Wholesale Corporation (NASDAQ: COST) has reported a 15% increase in fourth-quarter 2022 revenues, which translated into double-digit growth in net income. Fourth-quarter revenues increased sharply to $72.09 billion.
Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023. Net income, adjusted