SKX - Skechers Targeting $1 Billion Profit -- What Investors Can Expect
2023-10-12 10:07:00 ET
All in all, it's been a good year for Skechers U.S.A. (NYSE: SKX) with its shares up almost 17% so far in 2023. Yet, management isn't standing still. Rather, they have a plan to both grow the business and become more profitable. And if the company hits its targets, it could reach $1 billion in annual operating profit in the not-so-distant future. Here's what this could all mean for investors.
In the second quarter of 2023, Skechers generated record quarterly sales of $2.01 billion. And for the year, management is guiding for sales of $7.95 billion to $8.10 billion, which would be a new annual record. But to reach $1 billion in annual operating profit by 2026, it will need to first reach more top-line records.
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Skechers Targeting $1 Billion Profit -- What Investors Can Expect