Skechers Q4 Profit Rises

(RTTNews) - Skechers U.S.A. Inc. (SKX) reported that its fourth-quarter net earnings attributable to the company rose to $59.53 million or $0.39 per share from $47.38 million or $0.31 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.39 per share for the quarter. Analysts' estimates typically exclude special items. Earnings from operations increased $10.4 million, or 12.4 percent, to $94.1 million.

Net sales for the quarter grew to $1.33 billion from $1.08 billion in the prior year. Wall Street analysts had a consensus revenue estimate of $1.25 billion.Comparable same store sales increased 9.9 percent, including increases of 10.3 percent domestically and 8.8 percent internationally. For the first quarter of 2020, the company expects earnings per share to be in the range of $0.70 to $0.75, and sales of $1.400 billion - $1.425 billion. Analysts project first-quarter earnings of $0.78 per share.

SKX closed Thursday regular trade at $37.97, down $0.15 or 0.39 percent. But, in the after-hours, the stock gained $4.81 or 12.67 percent.