This Is Why Skechers Stock Isn't Rallying More After a Great Q4 2019 Report
As forecast, Skechers (NYSE: SKX) ended 2019 with a bang. The shoemaker topped its own guidance for the holiday quarter and eclipsed $5 billion in annual sales for the first time. Shares popped as much as 17% but closed just 4% higher the day after the report.
Year-over-year sales growth is set to slow during the first quarter of 2020, though. It's usually a sleepy period of time for Skechers anyway (the second quarter, which contains the Easter holiday this year, is usually busier), but management said the coronavirus situation in China and how it will inevitably affect revenue is mostly an unknown.
For the fourth quarter, Skechers said revenue grew 23% year over year to $1.33 billion (topping guidance for as much as $1.25 billion), and earnings per share were up 26% (as much as 29% was forecast). International sales were up a sizzling 31% and accounted for 59% of the top line. With overseas business now such a huge piece of the pie, double-digit expansion abroad is fueling impressive results.
Source Fool.com
