Skechers USA (SKX) Misses Q2 EPS by 6c; Guides Below Views

Skechers USA (NYSE: SKX) reported Q2 EPS of $0.38, $0.06 worse than the analyst estimate of $0.44. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $966.46 million.

“Second quarter net sales exceeded our expectations setting another record quarter, and making the first half of 2017 a new record with sales surpassing $2 billion,” began David Weinberg, chief operating officer and chief financial officer. “The growth came across our three distribution channels—with double-digit increases in our Company-owned global Skechers retail business, and each of our international distributor, subsidiary and joint venture businesses, as well as a mid-single-digit increase in our domestic wholesale business. Further, in the second quarter of 2017 in our domestic wholesale business, we shipped 11.4 percent more pairs while our average price per pair decreased 4.5 percent.”

GUIDANCE:

Skechers USA sees Q3 2017 EPS of $0.42-$0.47, versus the consensus of $0.57. Skechers USA sees Q3 2017 revenue of $1.05-1.075 billion, versus the consensus of $1.06 billion.

For earnings history and earnings-related data on Skechers USA (SKX) click here.

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• SPS Commerce hires Morgan Stanley to explore sale amid activist push - Reuters
• Cerebras Systems (CBRS) Misses Q1 EPS, Revenues Beat