Tags: Skechers | Shares | Strong | Results

Skechers Shares Jump on Strong Results

Tuesday, 22 Apr 2014 06:19 PM

Footwear maker Skechers USA Inc. reported better-than-expected quarterly results, helped by strong sales to U.S. and international wholesale customers.

The company's shares rose as much as 14 percent in extended trading.

"The demand for Skechers footwear from both our customers and consumers has been above and beyond our expectations," Chief Financial Officer David Weinberg said in a statement.

Net income attributable to Skechers jumped to $30.9 million, or 61 cents per share, in the first quarter ended March 31 from $6.6 million, or 13 cents per share, a year earlier.

Sales rose 21 percent to $546.5 million.

Analysts on average had expected a profit of 33 cents per share on revenue of $503.1 million, according to Thomson Reuters I/B/E/S.

Skechers shares closed at $36.87 on the New York Stock Exchange on Tuesday. In aftermarket trading, the stock was up 12 percent at $41.30.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
InvestingAnalysis
Footwear maker Skechers USA Inc.reported better-than-expected quarterly results, helped by strong sales to U.S. and international wholesale customers.
Skechers, Shares, Strong, Results
143
2014-19-22
Tuesday, 22 Apr 2014 06:19 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved