** charts before earnings **
** charts after earnings **
- A week later:
Skechers USA beats by $0.09, beats on revs; guides Q2 revs below consensus :
- Reports Q1 (Mar) earnings of $0.63 per share, $0.09 better than the Capital IQ Consensus of $0.54; revenues rose 27.4% year/year to $978.8 mln vs the $914.9 mln Capital IQ Consensus.
- Co issues downside guidance for Q2, sees Q2 revs of $875-900 mln vs. $912.9 mln Capital IQ Consensus Estimate.
- "At no other time in the Company's history have we been stronger across our many product categories, marketing initiatives and multiple distribution channels. The growing demand for our brand has resulted in record revenues."
- Co saw a 47.1% YoY increase in its international wholesale business. Co also saw a shift forward of some domestic and international orders into Q1 due to the Easter timing. In addition, domestic wholesale sales increased 12.1% and company-owned retail sales increased by 23.2% with a +9.8% same store comp.
- Note: the Q2 guidance assumes no significant shift or pull forward of orders from Q3 into Q2. SKX's Q1 and Q3 sales have the potential to become larger relative to the net sales balance of the other quarters as the co's international business becomes a greater percentage of total sales. Co therefore believes there could be upside opportunity for Q3 and the balance of the year.
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