What I'm Watching for When Skechers Reports Earnings
The company behind the No. 1 walking shoe brand in the U.S., Skechers (NYSE: SKX), is set to announce earnings on Thursday, Oct. 19. The company has put together a series of solid growth quarters -- reporting a 17% year-over-year increase in net sales in the second quarter -- but the stock is trailing the market over the past 12 months.
The company attributed growth in the second quarter to a 6.4% increase in its domestic wholesale business, an 18.6% increase in its international wholesale business, and a 28% percent increase in the company-owned global retail business, including comps at 7.1%. While inventory rose in the second quarter, management indicates that it is in line with expectations.
Source: Fool.com