Why Skechers USA Inc. Stock Skyrocketed Today
Shares of casual-shoe brand Skechers USA (NYSE: SKX) were surging today after the company posted blowout numbers in its third-quarter earnings report. As of 11:02 a.m. EDT, the stock was up 37.3%.
The global sneaker chain reported a new quarterly sales record as revenue increased 16.2% to $1.095 billion, ahead of estimates of $1.07 billion. Meanwhile, gross margin improved 190 basis points to 47.5%, driving earnings per share up from $0.42 to $0.59. That easily beat expectations of $0.43.
Image source: Skechers.
Source: Fool.com
Skechers U.s.a. Inc. Aktie
61,34 €
-0,68 %
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