Skechers USA Drops 6% on Weak Guidance
Skechers USA Drops 6% on Weak Guidance

Skechers USA Drops 6% on Weak Guidance

Feb. 2, 2024, 11:31 a.m., readers: 16

Skechers USA (NYSE:SKX) saw its stock plummet by more than 6% intra-day today following the announcement of its first-quarter sales, which did not meet expectations. The company reported earnings per share (EPS) of $0.56, marginally surpassing the forecasted $0.55. Nevertheless, Skechers' quarterly revenue of $1.96 billion was below the consensus estimate of $2.04 billion. For the full year, Skechers USA set its EPS forecast in the range of $3.65 to $3.85, significantly under the consensus of $4.18. The company also anticipates its annual revenue to fall between $8.6 billion and $8.8 billion, which is less than the expected $8.94 billion. Looking into the first quarter, Skechers expects sales to range from $2.175 billion to $2.225 billion, compared to the consensus of $2.19 billion. The projected EPS for the quarter is between $1.05 and $1.10, below the anticipated $1.20. Additionally, Skechers USA detailed its capital expenditure forecast for the year, estimating total investments to be between $350 million and $400 million.


About NYSE: SKX

S kechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments:

Price: 60.04
Market cap: 8.0 billion USD
Eps: 3.49
P/e ratio: 17.20
Terminal Research: SKX