The Manhattan Beach, Calif., company earned $59.5 million, or 39 cents a share, in the quarter, up 26% from $47.4 million, or 31 cents, in the year-earlier quarter.
Sales surged 23% to $1.33 billion from $1.1 billion.
Analysts expected earnings per share of 39 cents and revenue of $1.2 billion for the latest quarter, according to FactSet.
At last check Skechers shares were up 6.8% at $40.56.
The company in 2019 posted four quarters of record sales, Chief Executive Robert Greenberg said in a statement.
And “2019 was also the year we saw the resurgence of chunky sneakers — and as an originator in this category, we became a go-to source around the world.”
He said the company showed particular strength with men’s, walking, running and golf shoes.
Greenberg expressed concern about the coronavirus in China and its impact on Skechers' employees, partners, vendors and consumers.
“We continue to monitor this situation and its potential disruption to our global business,” he said. “The Skechers brand is strong in China, and we remain confident in our long-term prospects in the country.”
For the first quarter, Skechers expects to earn 70 cents to 75 cents a share on revenue ranging $1.4 billion to $1.43 billion. The FactSet survey was looking for 75 cents a share and $1.42 billion.
Deutsche Bank analysts rate the stock a buy and raised their share-price target to $51 from $49.
Skechers’ earnings report “showcases the company's strong momentum across all regions and channels, driven by innovative and compelling product,” the analysts wrote in a report.
“We were particularly impressed with SKX's domestic sales trends … in what we view as a tough retail environment.”
Analysts at Susquehanna Financial Group rate the stock positive and raised their price target to $51 from $49.
“Skechers brand is globally resonating with consumers,” the analysts wrote in a report.
Stifel rates Skechers buy and lifted its target price to $49 from $48, Bloomberg reported.
Morgan Stanley analysts rate Skechers stock equal weight with a price target of $37. “We come away from the fourth-quarter 2019 report incrementally positive,” they wrote in a report.
The “2019 earnings-before-interest-and-taxes margin expansion suggests management’s strategies are on the right track, despite quarterly volatility.
"We remain equal weight for now given the China coronavirus revenue impact uncertainty and the ongoing EBIT margin trajectory debate.”
And Wells Fargo affirmed the stock equal weight and ran up its target price to $43 from $40, Dow Jones reported.