SKX - Skechers Stock Jumps On Strong Q1 Earnings: The Details | Benzinga
Skechers U.S.A. Inc (NYSE:SKX) shares are rising in Thursday’s after-hours session after the company reported better-than-expected financial results for the first quarter.
What Happened: Skechers first-quarter revenue increased 12.5% year-over-year to $2.251 billion, which beat the consensus estimate of $2.204 billion, according to Benzinga Pro. The lifestyle footwear company reported quarterly earnings of $1.33 per share, which beat analyst estimates of $1.10 per share.
Wholesale sales were up 9.8% in the quarter, while direct-to-consumer sales jumped 17.3%. Gross margins came in at 52.5%.
“We began the new year by setting a new sales record, delivering results ...