=Skechers USA (SKX) reported earnings on Thur 19 July 2018 (a/h)

Skechers USA misses by $0.12, reports revs in-line; guides Q3 EPS below consensus, revs below consensus 

• Reports Q2 (Jun) earnings of $0.29 per share, $0.12 worse than the Capital IQ Consensus of $0.41; revenues rose 10.6% year/year to $1.13 bln vs the $1.13 bln Capital IQ Consensus.
  • International wholesale sales increased 24.9 percent; total international wholesale and retail sales combined represented 51.6 percent of total sales
  • Company-owned global retail sales increased 12.8 percent, with a comparable same store sales increase of 4.5 percent worldwide
• Co issues downside guidance for Q3, sees EPS of $0.50-0.55 vs. $0.68 Capital IQ Consensus Estimate; sees Q3 revs of $1.200-1.225 bln vs. $1.26 bln Capital IQ Consensus Estimate.
  • The guidance is based on continued strong performance within the Company's international subsidiaries and joint venture businesses, and the Company-owned Skechers retail stores, as well as growth in the Company's international distributor and domestic wholesale businesses in the back half of the year.