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Skechers Earnings: SKX Stock Skyrockets as Q2 Sales Tally Up 7.4% Y2Y

Karl Utermohlen

Skechers (NYSE:SKX) reported its quarterly earnings results late today, bringing in sales that were positive overall, gaining more than 7% and less than 8% during the three-month period, lifting SKX stock nearly 13% after hours.

Skechers Earnings

The Manhattan Beach, Calif.-based footwear said that for the quarter, it brought in sales of $1.22 billion, which totaled a 7.4% gain when compared to the same period a year ago. Wall Street had posted a consensus guidance in the range of $1.20 to $1.23 billion for the three months.

Adjusted earnings were positive too for Skechers, increasing about 17% when compared to the year-ago quarter, amounting to 34 cents per share. In the year-ago period, this figure came in at 29 cents per share, while analysts predicted it would be in the range of 30 cents to 35 cents per share for the current period.

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The company added that its international sales for the period were positive, increasing 19.8% when compared to the year-ago quarter. Additionally, Skechers’ domestic segment was up by 1.5% year-over-year.

On the international front, it was all good things for the business as sales surged 10.9% bettering the Wall Street guidance. For its second quarter, the business posted growth of 4.9% in same-store sales, backed by solid performance in all its segments.

SKX stock is soaring about 12.6% late today following the business’ quarterly earnings figures, which were arguably a success overall. Shares had been gaining about 1.2% during regular trading hours.

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