Skechers USA Inc (SKX) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $0.63 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.54. The company posted revenue of $978.79 million in the period, compared to analysts expectations of $914.86 million. The company’s revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS.
Many Wall Street Analysts have commented on Skechers USA Inc. Macquarie Initiated Skechers USA Inc on Apr 7, 2016 to “Outperform”, Price Target of the shares are set at $45.
Skechers USA Inc opened for trading at $28.65 and hit $29.51 on the upside on Monday, eventually ending the session at $29.36, with a gain of 2.34% or 0.67 points. The heightened volatility saw the trading volume jump to 30,59,679 shares. Company has a market cap of $4,590 M.
In a different news, on Mar 8, 2016, Mark A Nason (Executive Vice President) sold 4,947 shares at $34.00 per share price. According to the SEC, on Mar 2, 2016, David Weinberg (Chief Operating Officer) sold 54,179 shares at $33.18 per share price. On Dec 18, 2015, Michael Greenberg (President) sold 150,000 shares at $30.66 per share price, according to the Form-4 filing with the securities and exchange commission.
Skechers U.Skechers U.S.A. Inc. is a designer and marketer of Skechers-branded lifestyle footwear for men women and children and performance footwear for men and women under the Skechers GO brand name. The Companys brands are sold through department and specialty stores athletic and independent retailers boutiques and internet retailers. In addition to wholesale distribution its footwear is available at its e-commerce site and its own retail stores. As of February 15 2015 the Company owned and operated 119 concept stores 146 factory outlet stores and 98 warehouse outlet stores in the United States and 51 concept stores 33 factory outlet stores and three warehouse outlet stores internationally.