SKX - 3 Things to Love About Skechers Stock
2023-08-01 08:20:00 ET
Footwear company Skechers (NYSE: SKX) is on pace to sell around $8 billion worth of products this year. That's up from less than $2 billion a decade ago. This explosive growth has been fueled in part by the company's push into direct-to-consumer sales. There are now over 4,700 Skechers stores around the world, including more than 1,500 that are owned and operated by the company.
Skechers' second-quarter results blew past analyst estimates. Revenue of $2.01 billion was up 7.7% year over year and about $90 million ahead of analyst expectations, while earnings per share of $0.98 soared 69% year over year and beat estimates by $0.44. That huge beat on the bottom line was one reason why the stock soared last week .
Beyond the headline numbers, there are a few reasons investors should consider Skechers stock for their portfolios.
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3 Things to Love About Skechers Stock