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Article Date: April 2018
Word Count: 512

Skechers Q1 Booms, but Sees Q2 Softness on Weather, Timing


Net income jumped 25% to $117,652,000 from $93,995,000 in the first quarter as revenues increased 17% to $1,250,078,000 from $1,072,808,000 led by solid gains in global retail and both international and domestic wholesale. But SKX noted that while Q1 sell-in was very strong, bad weather depressed retail sell-throughs and, along with the Easter shift, will be headwinds as it laps a very strong Q2 last year. Sales guidance is for $1.120 billion to $1.145 billion (against $1.098 bb last year) and earnings are expected to be $0.38 to $0.43 per share ($64 million). Domestic wholesale is expected to drop mid-single ... Log in to view full article.

 


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