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Skechers USA (SKX) Tops Q2 EPS by 54c

July 29, 2015 4:52 PM

Skechers USA (NYSE: SKX) reported Q2 EPS of $1.55, $0.54 better than the analyst estimate of $1.01. Revenue for the quarter came in at $800.5 million versus the consensus estimate of $736.37 million.

“The continued strong demand for our product worldwide led to record quarterly financial results for the second quarter—including net sales, earnings from operations and earnings per share. Our second quarter net sales of more than $800 million combined with record sales in the first quarter resulted in the Company achieving $1.57 billion in sales for the first half of 2015,” began David Weinberg, chief operating officer and chief financial officer. “Driving this growth were double-digit increases in our three main business channels: domestic wholesale with an average price per pair increase of 9.0 percent; international wholesale, which includes 665 third-party-owned Skechers retail stores; and Company-owned Skechers domestic and international retail stores with a total comp store sales increase of 12.9 percent for the quarter. Furthermore, the second quarter benefitted from both pent up demand resulting from U.S. port issues in the first quarter as well as a shift in back-to-school shipments due to increased demand in both domestic and international markets. Our international subsidiary business also remained strong with double-digit increases despite currency headwinds in several key markets.”

For earnings history and earnings-related data on Skechers USA (SKX) click here.

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