Skullcandy in Hot Demand as Turnaround Efforts Drum Up Earnings
Skullcandy has been rebranding as a product of prestige, cutting sales to discount retailers, policing online sales prices and restricting inventory to prevent oversupply.
Skullcandy was in hot demand Friday after trumping analyst estimates in its fourth quarter. The headphones maker reported profits of 13 cents a share, compared to expectations for 9 cents a share. Revenue of more than $72 million also came in above forecasts. Recently the company has been rebranding as a product of prestige, cutting sales to discount retailers, policing online sales prices and restricting inventory to prevent oversupply. For the current quarter, sales are expected to climb 5-7%.
