SKX - Why Are Skechers Shares Soaring Today? | Benzinga
Shares of footwear and apparel maker Skechers USA Inc (NYSE:SKX) are gaining after the company reported better-than-expected first-quarter FY24 earnings.
Skechers reported first-quarter FY24 sales growth of 12.5% year-on-year to $2.251 billion, beating the analyst consensus estimate of $2.204 billion.
The increase in sales was attributed to a 15.2% increase in International and a 7.8% increase in Domestic sales.
International sales constituted 65% of total sales with a 17% rise in Europe, the Middle East and Africa; 16% increase in Asia Pacific and 8% climb in the Americas.
"In the quarter, we also broadcast our first Skechers Basketball campaigns starring NBA players Julius Randle and Terence ...