Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
LOS ANGELES - Skechers U.S.A., Inc. (NYSE:SKX) shares plunged 11.4% after the footwear company reported fourth-quarter earnings that fell short of analyst expectations and provided weaker-than-anticipated guidance for 2025.
The comfort shoe maker posted adjusted earnings per share of $0.65 for Q4, missing the consensus estimate of $0.74. Revenue came in at $2.21 billion, slightly below analysts’ projections of $2.22 billion but up 12.8% YoY.
For the full year 2025, Skechers forecasts earnings per share between $4.30 and $4.50, well below the $4.85 Wall Street consensus. The company expects revenue of $9.7-$9.8 billion, also missing analysts’ expectations of $9.87 billion.
"We delivered record full year sales of $8.97 billion in 2024, or $9.04 billion on a constant currency basis, reflecting the continued robust global consumer demand supported by effective marketing campaigns," said David Weinberg, Chief Operating Officer of Skechers.
Fourth-quarter wholesale sales grew 17.5% YoY to $1.13 billion, while direct-to-consumer sales increased 8.4% to $1.08 billion. Gross margin improved slightly to 53.3% from 53.1% a year ago.
"Though challenging market and shipping conditions persisted in a few countries, the strength of our business is attributable to our differentiated market position, a highly attractive value proposition that combines comfort, innovation, style and quality at an attainable price," Weinberg added.
The company repurchased $120 million worth of its Class A common stock during the quarter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.