Categories AlphaGraphs, Earnings, Retail

Skechers stock jumps 13% after beating Q4 earnings estimate by 8 cents

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.

SKECHERS fourth quarter 2018 earnings infographic

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.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference, and much more!

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top