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Investing.com -- Skechers USA shares plunged 8% in U.S. premarket trading Friday after the shoemaker missed Wall Street expectations for first-quarter revenue and withdrew its annual forecast due to macroeconomic uncertainty tied to global trade policies.
The company reported earnings of $1.17 per share, in line with analysts’ expectations.
Revenue came in at $2.41 billion, slightly below expectations of $2.43 billion.
Skechers said it is not providing financial guidance at this time and is withdrawing the annual 2025 outlook it issued in February.
Stifel analysts said Skechers’s revenue commentary signals the company’s revenue is on track across most regions, though the outlook remains uncertain in the U.S. due to consumer sentiment and in China amid broader macroeconomic weakness.
"The strategy of protecting gross profit dollars (through vendor cost sharing, resourcing, pricing) and investing in brand health suggests lower margins near-term," the analysts added.
Pratyush Thakur contributed to this report.