Skechers Has Strong Day After Easily Beating Estimates
Shares of
Skechers
(SKX)
rose sharply in Thursday's trading session, a day after the company reported fourth-quarter earnings that easily beat Wall Street's estimates.
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Skechers ended the
New York Stock Exchange
trading session at $26.86, up $4.46, or 19.9% on the day.
The shoe company boasted fourth-quarter earnings of $9.7 million, or 26 cents a share, beating estimates by 10 cents. The company earned $2.9 million, or 8 cents a share, in the year-ago period.
Skechers, which is based in Manhattan Beach, Calif., reported sales of $172 million, up from $100.1 million in the same period last year.
