Why Skechers Stock Gained 18% in September
Skechers (NYSE: SKX) beat the market in September as the stock gained 18% compared with a 2% increase in the S&P 500, according to S&P Global Market Intelligence. The boost added to significant investor gains, with shares up 60% so far in 2019.
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The September rally came as investors in the consumer discretionary stock gained confidence in its near-term growth prospects. Management gave an investor presentation early in the month that highlighted Skechers' booming growth in key areas like e-commerce and international markets. Rival Nike (NYSE: NKE) added to the optimism by beating its fiscal fourth-quarter outlook while raising its profit forecast for the year.
Source Fool.com
