===Skechers USA (SKX) agrees to be acquired by 3G Capital for $63.00/share in cash or $9 billion

•  Skechers’ 26-year run on the public markets will soon come to an end after it announced it will be acquired by private equity firm 3G Capital for $63 per share.
• Skechers is the third-largest footwear company in the world behind Nike and Adidas.

Skechers USA agrees to be acquired by 3G Capital, a global investment firm built on an owner-operator approach to long-term investing; 3G Capital to pay $63.00/share in cash for Skechers

• Skechers will continue to be led by Chairman and Chief Executive Officer Robert Greenberg, President Michael Greenberg, and Chief Operating Officer David Weinberg.
• The Company will remain focused on its successful strategy of delivering style, comfort, quality, and innovation at an affordable price. Skechers and 3G Capital have a shared vision for the long-term future growth of the business.
• 3G Capital to pay $63.00 per share in cash for Skechers, representing a premium of 30% to the Company's 15-day volume-weighted average stock price 3G Capital to offer all existing Skechers stockholders an alternative mixed consideration option.
• Skechers to become a privately held company upon completion of the transaction.

Skechers reported a record $9 billion in revenue in 2024 with net earnings of $640 million.

In a press release announcing the deal on Monday, the companies did not mention the potential impacts of President Donald Trump’s tariffs on its business going forward. An email requesting comment was not immediately returned.

China accounts for 15% of Skecher's revenue, according to the data firm FactSet.

About 97% of the clothes and shoes purchased in the U.S. are imported, predominantly from Asia, according to the American Apparel & Footwear Association.

==Skechers USA (SKX) reported earnings on Tue 25 Oct 22 (a/h)

 

Skechers Issues Statement on Kanye West Unauthorized Visit

Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company, stated Kanye West -- also referred to as Ye -- arrived unannounced and without invitation at one of Skechers' corporate offices in Los Angeles. Considering Ye was engaged in unauthorized filming, two Skechers executives escorted him and his party from the building after a brief conversation. Skechers is not considering and has no intention of working with West. We condemn his recent divisive remarks and do not tolerate antisemitism or any other form of hate speech. The Company would like to again stress that West showed up unannounced and uninvited to Skechers corporate offices.

Skechers USA misses by $0.17, beats on revs; guides Q4 revs below consensus 

Reports Q3 (Sep) earnings of $0.55 per share, $0.17 worse than the S&P Capital IQ Consensus of $0.72; revenues rose 21.1% year/year to $1.88 bln vs the $1.81 bln S&P Capital IQ Consensus. Wholesale sales grew 26.2%. Direct-to-Consumer sales grew 11.9%. Gross margin of 47.1% compared to 49.9% in year-ago quarter. Co issues downside guidance for Q4, sees Q4 revs of $1.725-$1.775 bln vs. $1.81 bln S&P Capital IQ Consensus.

Earnings this week : Oct 24 - 28, 22 (wk 43)

Monday (Oct 24)

• Morning:  BOH CBU DORM HNI KEX PHG SCHN
• Afternoon: AGNC ARE BRO CADE CDNS CALX CATY CLS CR CCK DFS HSTM HXL HOPE IBTX LOGI MEDP NWE PKG PCH XM RRC SSD SSB AAN TBI WRB WSFS ZION

Tuesday (Oct 25)

• Morning: MMM ADM ARCC AWI BIIB CNC CLF KO GLW FBP FELE GATX GE GM GPK HAL HUBB ITW IVZ JBLU KMB LKFN MCO MSCI NVS NVR ONB PCAR PNR PII POR PHM RTX SAP ST SHW SSTK SFNC SITC SBSI SYF TRU TRN UBS UPS VLO XRX
• Afternoon:  AGYS GOOG AMP AGR AXTA BXP BYD CNI CHX CC CMG CB CSGP EGP WIRE ENPH EQC EQR FFIV FCF FIBK FE HA HIW IEX JNPR KRC LXFR MANH MTDR MAT MXL MSFT NAVI NCR NXGN NEX RNST ROIC SKX SPOT LRN TENB TER TXN TNET TRMK UMBF UHS VBTX VICR V WSBC WH

Wednesday (Oct 26)

• Morning:  APH ADP AVY BXMT BA BOKF BSX BCO BMY BG CHEF CME CSTM CTS DRVN EXP EVR FTV GRMN GD GPI HOG HES HLT IART IQV KBR KHC MAS MNRO COOP EDU NYCB NSC ODFL OTIS OC PAG BPOP PRG PB ROL ROP RES R STX SLGN SLAB SF TMHC TDY TMO TKR TPB UMC VRT WNC WM WING 
• Afternoon:  AEM AGI ALGN AMED NLY AM AR ACGL ASGN AZPN AVT AXS BHE BMRN BOOT CACI CP CCS CHDN FIX CYH CNMD CLB COUR DLR ESI EHC EQT ESS ETD RE FLEX F FORM FBHS FWRD ULCC GL GSHD GGG PI INVH JBT KLAC LC MMSI MTH META MEOH MAA MOH MSA MUSA MYRG NTGR ORLY OII OLN OMF PGRE PTEN PEGA PPC PLXS QS RJF SLM SEIC NOW SLP SNBR STC NOVA FTI TDOC TROX TYL UDR UCTT URI UPWK VFC VMI WOLF

Thursday (Oct 27)

• Morning: AOS ALLE ALGM ALNY MO AEP AMT BUD HOUS AIT ARCH AMBP ARES ABG AN BAX BWA BFH BC CCJ CRS CARR CAT CBZ CBRE CHKP CMS CNX CMCO CMCSA CFR DAN DTE EME EXLS EXTR FAF FCFS FISV FCN GEL GEO GBX HEES HTZ HON INMD INSM IP ITGR JHG KDP KIM LH LAZ LII LECO LIN LKQ MMP HZO MA MCD MDC MPW MRK NTCT NOC NVCR OPCH OSIS OSTK PATK PBF PRFT PDS RS SPGI SNDR SHOP SAH SO LUV SWK STM TROW TECK TFX TNC TXT SHYF TW TNL TPH TRS VLY VC WST WDC WEX WTW XEL
• Afternoon:  EGHT AMZN ABCB AAPL ATR AJG AX BIO CPT COF CSL CWST COHU COLM OFC CUZ CUBE DECK DXCM DRQ EMN EW ELME EIG ENVA EXPO FHI FSLR FTAI GLPI GILD LOPE HIG HUBG INTC KNSL KN LMAT LPLA LTC MGRC MERC MTX MHK MPWR NBHC NATI NOV OIS ONTO CASH PEB PFSI PINS PXD PFG PTCT RRR RSG RMD SGEN SWN SPSC SSNC STAG TMUS TEX TXRH TVTX X VRSN VRTX VICI WY AUY ZEN

Friday (Oct 28)  

• Morning:  ABBV AB AON AVTR B BLMN BAH GTLS CHTR CVX CHD CL CRTO DVA DTM XOM FHB FTS GNTX GWW IMO JKS LYB NWL NMRK NEE NEP NVT PIPR PFS SNY SMP SLCA WETF

This week's biggest % winners & losers: Apr 19 - 23, 21 (wk 16)

This week's biggest % gainers/losers The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top % gainers

• Healthcare: CTMX (9.18 +22.24%), PETQ (43.25 +16.89%), TBIO (21.67 +15.02%)
• Industrials: KNL (24.23 +40.63%), EFX (229.82 +20.34%), GNK (14.08 +19.83%), ERII (21.74 +18.99%), DSX (3.64 +18.79%), EGLE (44.3 +18.67%), KSU (301.41 +17.05%), TPIC (58.1 +16.92%)
• Consumer Discretionary: UXIN (2.05 +56.52%), HOG (48.03 +18.93%), SKX (51.71 +15.37%)
• Information Technology: TDC (52.23 +31.93%), DQ (89.07 +26.77%), CAMP (13.6 +15.31%), CTK (2.36 +14.56%)
• Financials: EBSB (22.26 +21.14%)

This week's top % losers

• Healthcare: HAE (67.34 -42.43%), INO (6.84 -21.74%), EBS (62.02 -20.12%), EOLS (9.11 -16.95%), FLXN (8.23 -12.54%), DVAX (9.63 -12.38%), IRTC (79.86 -12.18%), QDEL (114.35 -11.24%)
• Materials: TRQ (17.23 -10.49%)
• Consumer Discretionary: PENN (89.66 -10.29%)
• Information Technology: INTC (59.21 -8.56%)
• Financials: GOF (19.4 -11.33%), BCOR (14.7 -10.37%)
• Energy: NR (2.87 -9.75%), GTE (0.59 -9.43%), REGI (58.88 -9.19%), REI (1.96 -8.84%)
• Consumer Staples: MO (47.42 -9.35%)

Skechers USA (SKX) reported earnings on Thur 22 April 21 (a/h)

•  4/21: #4; vol. 2.3M   +16%

 

 

 

 

 

 

 

 

 

Skechers USA beats by $0.22, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY21 EPS in-line, revs above consensus

Reports Q1 (Mar) earnings of $0.68 per share, excluding non-recurring items, $0.22 better than the S&P Capital IQ Consensus of $0.46; revenues rose 15.0% year/year to $1.43 bln vs the $1.33 bln S&P Capital IQ Consensus.

• International Wholesale sales grew 23.8%.
• Direct-to-Consumer sales grew 18.1%.

Co issues upside guidance for Q2, sees EPS of $0.40-0.50, excluding non-recurring items, vs. $0.30 S&P Capital IQ Consensus; sees Q2 revs of $1.45-1.50 bln vs. $1.22 bln S&P Capital IQ Consensus.

Co issues guidance for FY21, sees EPS of $1.80-2.00, excluding non-recurring items, vs. $1.92 S&P Capital IQ Consensus; sees FY21 revs of $5.8-5.9 bln vs. $5.54 bln S&P Capital IQ Consensus

Earnings this week : Apr 19 - 23, 2021 (wk 16)

Monday (Apr 19)

• Morning:  KO MTB ONB PLD
• Afternoon: ACC CCK ELS FNB HXL IBM PNFP STLD UAL WTFC ZION

Tuesday (Apr 20)

• Morning: ABT AN BMI CMA DOV FITB GATX HOG IRDM JNJ KEY LMT MAN EDU NTRS OMC PM PG SFNC SNV TRV WBS XRX
• Afternoon:  CSX EW FMBI FULT HWC IBKR ISRG NFLX LRN THC UCBI WRB

Wednesday (Apr 21)

• Morning:  ANTM ASML BKR BOKF ERIC FHN FCFS HAL HCSG KNX LAD NDAQ NEE NEP NVR RCI SBNY TEL VZ
• Afternoon:  BXS BDN CACI CP CMG CHDN CNS CLB CCI DFS EFX FR GL GGG KMI LRCX LSTR LVS NTGR NWE PLXS XM REXR RLI RHI SLM SEIC SLG SNBR STL TCBI UFPI UMPQ VMI WHR

Thursday (Apr 22)

• Morning: ALK ALLE AAL AEP ARCH T AUB BANC BKU BIIB BX CADE GTLS CLF DHI DHR DOW EWBC FAF FCX GPC HCA HRI HBAN IQV HZO MKTX NUE ODFL ORI PNR POOL PDS DGX RS SASR SAP SITC SNA SON LUV TAL TSCO TPH TRN UNP VLO WSO WNS
• Afternoon:  ABCB ASB OZK BJRI SAM CAMP CSL CE BOOM EIG FFBC FE GBCI HTH INTC KN MAT NBHC PBCT STX SKX SNAP SIVB VRSN VICR WWE

Friday (Apr 23)  

• Morning:  AXP ALV AZZ FHB GNTX HON KMB RF SLB SXT SBSI

This week's biggest % winners & losers : April 15 - 19, 2019 (wk 16)

The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: ARQL (6.54 +17.63%), CTLT (43.97 +12%)
• Industrials: ADSW (32.83 +20.97%), BGG (14.1 +12.35%), PATK (55.13 +12.08%), MRTN (20.44 +11.69%)
• Materials: AMRS  (5.02  +74.91%)
• Consumer Discretionary: NEW (13.14 +31.93%), ADNT (25.91 +24.99%), TLRD (8.23 +10.62%), GOOS (52.68 +9.89%)
• Information Technology: QCOM (79.89 +40.28%), EFII (37.51 +27.59%), ADTN (16.59 +15.29%)
• Financials: QD (6.60 +15.59%)
• Energy: MDR (9.92 +10.22%)
• Consumer Staples: SFS (6.52 +18.33%), PPC (25.82 +11.15%), ELF (12.96 +10.96%), MGPI (87.3 +10.31%),

This week's top 20 % losers

• Healthcare: APHA (7.65 -24.26%), THC (23.41 -19.3%), INSP (47.07 -18.58%), COLL (13.52 -18.51%), MDGL (105.56 -16.77%), MNK (18.23 -16.18%), TBIO (9.99 -16.05%), STAA (31.21 -14.94%), IONS (72.99 -13.73%), PRQR (11.34 -13.37%)
• Consumer Discretionary: SNBR (39.16 -19.72%), SKX (31.60  -8.17%)
• Information Technology: STNE (26.51 -24.79%), CEVA (23.3 -19.04%)
• Financials: EHTH (54.76 -17.26%)
• Energy: ROAN (4.43 -22.82%), ALTM (5.00 -14.53%), GPOR (6.69 -13.57%)

Skechers USA (SKX) reported earnings on Thur 18 April 2019 (b/o)

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MANHATTAN BEACH, Calif. (AP) _ Skechers USA Inc. (SKX) on Thursday reported first-quarter net income of $108.8 million.

The Manhattan Beach, California-based company said it had net income of 71 cents per share. Earnings, adjusted for non-recurring costs, came to 73 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.

The shoe company posted revenue of $1.28 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.29 billion.

Skechers expects full-year earnings to be 30 cents to 35 cents per share, with revenue in the range of $1.2 billion to $1.23 billion.

Skechers shares have climbed 54 percent since the beginning of the year. The stock has decreased 17 percent in the last 12 months.

Earnings this week : April 15 - 19, 2019 (wk 16)

Monday (April 15)

• Morning: APHA C GS MTB
• Afternoon: JBHT PNFP WTFC

Tuesday (April 16)

• Morning: BAC   BLK CMA FHN JNJ OMC PGR PLD UNH WIT
• Afternoon: CSX FULT HWC HOPE IBM IBKR MRTN MLNX NFLX UAL WSBC

Wednesday (April 17)

• Morning: ABT ASML BMI BK ERIC KSU MS PNR PEP POL TXT USB
• Afternoon: ADTN AA TEAM BXS OZK CATY CNS CCK CCI ETFC EGBN KMI LVS LLNW PIR PLXS SLM SLG SNBR TCBI TMK TBK UMPQ URI

Thursday (April 18)

• Morning: ALLY AXP BBT BX GTLS CHKP CFG DHR DOV EWBC GPC HTLD HOMB HON IIIN KEY MAN PM POOL BPOP PPG RF RCI SASR SLB SKX SNA SON STI SYF TSM TRV UNP WBS
• Afternoon: EXPO ISRG PBCT

Friday (April 17) : Bond and equity markets closed for Good Friday

Other reports this week:

• Monday: April Empire State Manufacturing Index (prior 3.7) at 8:30 ET and February Net Long-Term TIC flows (prior -$7.20 bln) at 16:00 ET
• Tuesday: March Industrial Production (prior 0.1%) and Capacity Utilization (prior 78.2%) at 9:15 ET and April NAHB Housing Market Index (prior 62) at 10:00 ET
• Wednesday: Weekly MBA Mortgage Index (prior -5.6%) at 7:00 ET; February Trade Balance (prior -$51.10 bln) at 8:30 ET; February Wholesale Inventories (prior 1.4%) at 10:00 ET; Weekly crude oil inventories (prior 7.0 mln) at 10:30 ET; and April Fed Beige Book at 14:00 ET
• Thursday: March Retail Sales (prior -0.2%), Retail Sales ex-auto (prior -0.4%), Initial Claims (prior 196,000), Continuing Claims (prior 1.713 mln), and Philadelphia Fed Survey (prior 13.7) at 8:30 ET; February Business Inventories (prior 0.8%) and March Leading Indicators (prior 0.2%) at 10:00 ET; and weekly natural gas inventories (prior +25 bcf) at 10:30 ET

Implied moves for earnings this week:

• $NFLX 8.1%
• $BAC 4.2%
• $C 4.1%
• $GS 4.7%
• $JNJ 3.1%
• $IBM 5.3%
• $CSX 4.2%
• $UAL 5.1%
• $ABT 3.6%
• $TEAM 9.4%
• $MS 4.5%
• $AA 7.4%
• $PEP 2.3%
• $ISRG 3.5%
• $UNH 4.7%
• $BLK 3.1%
• $LVS 4.3%

=Skechers USA (SKX) reported earnings on Thur 7 Feb 2019 (a/h)

Skechers USA beats by $0.08, misses on revs; guides Q1 EPS above consensus, revs below consensus

• Reports Q4 (Dec) earnings of $0.31 per share, $0.08 better than the S&P Capital IQ Consensus of $0.23; revenues rose 11.4% year/year to $1.08 bln (a Q4 sales record) vs the $1.1 bln S&P Capital IQ Consensus
  • Fourth quarter comparable same store sales in Company-owned retail stores, including ecommerce, increased 1.1 percent, which included an increase of 3.0% in its international stores and 0.4% in the United States
  • Gross margins increased 90 basis points to 47.7% as higher domestic margins from improved retail pricing and product mix was partially offset by the negative impact of foreign currency exchange rates.
• Co issues mixed guidance for Q1, sees EPS of $0.70-0.75 vs. $0.66 S&P Capital IQ Consensus; sees Q1 revs of $1.28-1.30 bln vs. $1.33 bln S&P Capital IQ Consensus.

This week's biggest % winners & losers : Oct 15 - 19, 18 (wk 42)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: ECYT (23.48 +52.57%)  MNKD (1.99 +24.37%), ACHC (38.4 +15.32%), GBT (37.81 +14.51%), AKRX (7.03 +13.39%), OMER (15.86 +13.37%), CYH (2.95 +12.6%)
• Industrials: GOL (8.72 +18.32%)
• Consumer Discretionary: SKX (29.72 +15.91%), IPG (24.65 +15.03%), CZR (10.2 +12.96%), HMHC (6.83 +12.89%), OMC (77.07 +12.35%)
• Information Technology: ERIC (9.36 +13.73%), TIVO (12.88 +12.2%)
• Financials: OFG (17.13 +14.74%)
• Energy: CZZ (8.15 +12.88%)
• Telecommunication Services: NIHD (6.13 +20.91%)

This week's top 20 % losers

• Healthcare: FMS (40.44 -17.1%), MNTA (13.65 -15.22%)
• Industrials: HEES (25.35 -17.72%), IIIN (26.87 -17.14%), URI (117.12 -15.06%)
• Consumer Discretionary: ASNA (3.63 -19.69%), CTRP (32.63 -15.58%)
• Information Technology: MOMO (30.46 -19.1%), ADTN (13.78 -18.75%)

=Skechers USA (SKX) reported earnings on Thur 18 Oct 2018 (a/h)

Skechers USA beats by $0.07, misses on revs; guides Q4 EPS above consensus, revs above consensus 

• Reports Q3 (Sep) earnings of $0.58 per share, $0.07 better than the S&P Capital IQ Consensus of $0.51; revenues rose 7.5% year/year to $1.18 bln vs the $1.22 bln S&P Capital IQ Consensus.
  • Q3 same store comps at company-owned retail stores worldwide increased +1.9%, including an increase of +3.0% in the US offset by a decrease of- 0.8% in its international stores.
• Co issues upside guidance for Q4, sees EPS of $0.20-0.25 vs. $0.18 S&P Capital IQ Consensus; sees Q4 revs of $1.100-1.125 bln vs. $1.08 bln S&P Capital IQ Consensus.

Earnings this week : October 15 - 19, 2018 (wk 42)

Earnings confirmed to report this week

Monday (Oct 15)

• Morning: BAC  
• Afternoon: JBHT

Tuesday (Oct 16)

• Morning: BLK  CMA FHN DPZ GS  GWW JNJ MS OMC PGR PLD  UNH
• Afternoon:  ADTN CREE CSX FULT HCSG HOPE HWC IBKR IBM  LRCX LTXB MRTN NFLX  PNFP SONC TACO  UAL UFPI

Wednesday (Oct 17)

• Morning: ABT ASML BMI MTB MTG NTRS SVU UNF USB WGO
• Afternoon:  AA BDN BXS CATY CCI CCK CNS EGBN KALU KMI SLG STLD TBK TCBI UMPQ URI WTFC

Thursday (Oct 18)

• Morning:  ADS BBT BK BX DHR DOV ERIC EWBC GPC GTLS HOMB IIIN KEY LNN MDSO NUE NVR NVS PM POOL PPG SAP SASR SBNY SNA SON TRV TSM TTS TXT WBC WBS
• Afternoon: AXP CP CE ETFC EXPO ISRG PYPL SKX WDFC WERN 

Friday (Oct 18)

• Morning: CLF HON IPG KSU MAN MINI PG RCI VFC

Thur Oct 18 a/h

=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.

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

Skechers USA beats by $0.01, beats on revs; guides Q2 EPS and revs below consensus; retail comps +9.5%; shift in shipments from Q2 to the back half of the year 

• Reports Q1 (Mar) earnings of $0.75 per share, $0.01 better than the Capital IQ Consensus of $0.74; revenues rose 16.5% year/year to $1.25 bln vs the $1.20 bln Capital IQ Consensus.
  • Company-owned same store comps were +9.5% in Q1.
• Co issues downside guidance for Q2, sees EPS of $0.38-0.43 vs. $0.54 Capital IQ Consensus Estimate; sees Q2 revs of $1.120-1.145 bln vs. $1.16 bln Capital IQ Consensus Estimate.
  • The revenue guidance includes an expected shift in shipments from Q2 to the back half of the year for several key international distributors and domestic accounts.

Skechers USA (SKX) reported earnings on Thur 19 Oct 2017 (a/h)

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Skechers USA beats by $0.15, beats on revs; guides Q4 EPS in-line, revs in-line

• Reports Q3 (Sep) earnings of $0.59 per share, $0.15 better than the Capital IQ Consensus of $0.44 and above prior guidance of $0.42-0.47; revenues rose 16.2% year/year to $1.09 bln vs the $1.07 bln Capital IQ Consensus and vs prior guidance of $1.05-1.075 bln.
  • The net sales growth was the result of a 25.7 percent increase in the co's international wholesale business, a 1.4 percent increase in its domestic wholesale business, and an 18.6 percent increase in its company-owned global retail business with total comp store sales increases of 4.4 percent.
  • The increase in its Company-owned retail business, which included sales growth of 9.5 percent in its domestic channel and a domestic comp store sales increase of 3.1 percent, came despite temporary store closures in Texas and Florida, and continued store closures in Puerto Rico due to the recent hurricanes.
  • Co reported net sales last year of $1.5 million for the days corresponding to the days closed this year due to the hurricanes. Gross profit for the third quarter of 2017 was $520.0 million, or 47.5 percent of net sales, compared to $430.0 million, or 45.6 percent of net sales, for the third quarter of 2016.
• Co issues in-line guidance for Q4, sees EPS of $0.09-0.14 vs. $0.12 Capital IQ Consensus Estimate; sees Q4 revs of $860-885 mln vs. $875.6 mln Capital IQ Consensus Estimate.
• Co says the growth came across our three distribution channels -- with double-digit increases in company-owned Skechers retail business worldwide and its international subsidiary and joint venture businesses, as well as a single-digit increase in its international distributor and domestic wholesale businesses. The strong international growth, including the continued strength in China, the resurgence of the United Kingdom and growth across all of Europe combined with its strong international retail business, resulted in international wholesale and retail representing 53% of total sales in Q3.

Skechers USA (SKX) reported earnings on Thur 20 Jul 2017 (a/h)

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Estimates: EPS to fall 8% to 44 cents despite a 10% revenue jump to $966 million.

Results: EPS of 38 cents on net sales of $1.03 billion.

Skechers USA misses by $0.06, beats on revs; guides Q3 EPS below consensus, revs in-line :

• Reports Q2 (Jun) earnings of $0.38 per share, $0.06 worse than the Capital IQ Consensus of $0.44; revenues rose 16.9% year/year to $1.03 bln vs the $966.5 mln Capital IQ Consensus and vs prior guidance of $950-975 mln.
• Co issues guidance for Q3, sees EPS of $0.42-0.47 vs. $0.56 Capital IQ Consensus Estimate; sees Q3 revs of $1.050-1.075 bln vs. $1.059 bln Capital IQ Consensus Estimate.
• "Investing in our brand and business is critical for both our short-term and long-term growth initiatives...Given the increases in our international business, which for the first six months represented 48 percent of our total business, we believe the greatest opportunity for expansion is internationally, and we are investing in our infrastructure and marketing to support this progress."

SKX — is it a buy?

• 6/22/17:  Is SKX a buy?

• A month later:

Long trade : SKX +7% (5/17)

• 5/24;  #2, 5, 6, 52, 95

 

Skechers USA (SKX) reported earnings on Thur 9 Feb 2017 (a/h)

• #1, 3-5, 16, 21, 25-7, 52, 58, 61, 75, 93, 94, 97

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Skechers USA misses by $0.06, beats on revs; guides Q1 EPS below consensus, revs above consensus  :

• Reports Q4 (Dec) earnings of $0.04 per share, $0.06 worse than the Capital IQ Consensus of $0.10; revenues rose 5.8% year/year to $764.3 mln vs the $726.21 mln Capital IQ Consensus.
  • The Company's annual effective tax rate for 2016 increased to 20.6 percent from 19.9 percent as of September 30, 2016, which increased its fourth quarter 2016 effective tax rate to 31.5 percent and reduced its earnings per share by $0.02. In addition, the Company's gross margins were negatively impacted by approximately $18.4 million due to negative foreign currency translations and an additional $4.6 million in pre-tax expenses related to foreign currency transaction losses during the fourth quarter of 2016. Further, the Company's business in the United Kingdom was significantly impacted by currency headwinds as its wholesale sales were flat during the fourth quarter in local currency but down 17.9 percent in U.S. dollars.
• Co issues mixed guidance for Q1, sees EPS of 0.50-0.55 vs. $0.66 Capital IQ Consensus Estimate; sees Q1 revs of 1.05-1.075 vs. $1.05 bln Capital IQ Consensus Estimate.
  • Despite an all-time net sales record in the first quarter of 2016 and Easter falling into the second quarter in 2017, the Company believes it will achieve flat to slightly positive sales in its domestic wholesale business, and increases in its international business and Company-owned retail stores.
• "The strong quarterly growth was primarily the result of a 17.1 percent increase in our international wholesale business, led by China with an increase of 48.5 percent. In addition, our global Company-owned retail business grew 13.9 percent on a store base of 571 at year-end. Combined with our third-party owned stores, we had 2,012 Skechers stores worldwide at year-end, creating a global network that includes more than 500 locations in China, more than 60 in each of India, Mexico and Saudi Arabia, and over 50 in each of Australia, Malaysia, South Korea and Taiwan." 
• The Company expects its ongoing capital expenditures for 2017 to be approximately $50 million to $55 million, which includes corporate office upgrades and an additional 70 to 90 Company-owned retail store openings and several store remodels, and an additional $25 million for infrastructure primarily in its China joint venture.