Posted by: traax December 9, 2018
$skx (sketchers)....in 18/24 months
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Sketchers gave good guidance for the rest of the year... SG&A expenses were dow 50 bps to 7.7% of sales. Total international wholesale sales rose 11.8%.Gross margin rose 40 bps to 49.5% of sales. Operating margin fell 10 bps to 10.5% of sales.
Looking ahead, Skechers sees Q4 revenue of $1.10B to $1.125B vs. $1.08B consensus and EPS of $0.20 to $0.25 vs $0.18 consensus.

“Achieving record third quarter sales is a notable accomplishment given the strength of our third quarter 2017 sales,” began Robert Greenberg, Skechers chief executive officer. “Both our domestic and international businesses grew, and we remained the leader in walking, work, casual lifestyle and sandals footwear in the United States.

https://seekingalpha.com/pr/17305674-skechers-achieves-record-third-quarter-2018-sales

“As we near the close of 2018, we believe the direction of our business is on target with our record sales in the third quarter, continued international growth and strong gross margins,” stated David Weinberg, chief operating officer of Skechers. “With three record sales quarters in 2018 and brand acceptance around the globe, we achieved a new record for the first nine months of $3.56 billion, an 11.5 percent increase over last year. In the third quarter, our international distributor business returned to growth, increasing 11.6 percent over the same period last year, and combined with our international joint venture and subsidiary business, our total international wholesale sales increased 11.8 percent for the period. International wholesale along with international retail now represents 55.5 percent of our total business. We expect our business in the United States—both wholesale and retail—to grow in the fourth quarter. We remain committed to efficiently and profitably growing our global footwear business.”



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