Skechers shares sink after earnings and guidance disappoint
Skechers USA Inc. SKX, +0.57% shares sank 12.1% after the shoes and accessories brand reported a first-quarter earnings and sales miss and weak guidance. Net income totaled $108.8 million, or 71 cents per share, down from $117.7 million, or 75 cents per share, last year. Revenue totaled $1.28 billion, a record, according to the company, up from $1.25 billion last year. The FactSet consensus was for EPS of 73 cents and revenue of $1.30 billion.
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