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Skechers (SKX) 1Q16 Results: Beats Estimates; International Expansion Is Key to Growth

Executive Summary

  • Skechers announced fiscal 1Q16 revenues of $978.8 million, up 27.4% year over year and above the $914.9 million consensus estimate. EPS was $0.63, beating the consensus estimate by $0.09.
  • The strong performance was a direct result of a 47.1% year-over-year increase in the company’s international wholesale business, a 23.2% increase in company-owned retail sales and a 9.8% comp increase at retail stores.
  • The company provided revenue guidance of $875–$900 million for 2Q16, below the consensus estimate of $912.9 million.

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