Skechers USA (SKX) shares drop as FY24 guidance disappoints

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Go back to Skechers USA (SKX) shares drop as FY24 guidance disappoints

Skechers Announces Record Annual Sales of $8.00 Billion for 2023

February 1, 2024 4:05 PM EST

LOS ANGELES--(BUSINESS WIRE)-- Skechers U.S.A., Inc. (Skechers or the Company) (NYSE: SKX), The Comfort Technology Company and a global footwear leader, today announced financial results for the fourth quarter and full year ended December 31, 2023.

2023 Highlights

Record annual sales of $8.00 billion, a year-over-year increase of 7.5% Direct-to-Consumer sales grew 24.3% Diluted earnings per share of $3.49, a year-over-year increase of 46.6% Inventory decrease of $292.6 million or 16.1% from December 31, 2022

Fourth Quarter Highlights

Record fourth quarter sales of $1.96 billion, a year-over-year increase... More