skechers: profits rally despite Q3 decline
Skechers 3rd quarter earnings may have dropped, but that doesn’t mean the company is headed for bankruptcy. Wednesday reports showed earnings totaling $24.5 million, compared with a profit of $28.3 million a year ago. Yet, revenues rose to $405.4 million, compared to $403.2 million the prior year, and far surpassing analysts estimates of $384.8 million. “Our improved performance was driven by sales growth in the high single digits in our international business, and double-digit improvements in our retail channel,” COO David Weinberg said in a statement. We wonder if it has anything to do with Skechers - Shape Ups- Metabolize (Natural/White) - Footwear, though we’re rather inclined to think not.
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