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Skechers price target raised to $61 from $51 at B. Riley » 08:5307/2307/23/21
B. Riley analyst Susan…
B. Riley analyst Susan Anderson raised the firm's price target on Skechers to $61 from $51 and reiterates a Buy rating on the shares post the "record performance" in Q2. All segments saw a significant recovery and were higher on a year-over-year basis and compared to 2019, Anderson tells investors in a research note. The analyst sees potential for additional upside as major international economies recover from the pandemic.
Skechers price target raised to $64 from $62 at Deutsche Bank » 06:4607/2307/23/21
Deutsche Bank analyst…
Deutsche Bank analyst Gabriella Carbone raised the firm's price target on Skechers to $64 from $62 and keeps a Buy rating on the shares. The analyst believes last night's results are likely to "fuel increasing positive sentiment" on Skechers. The company delivered "on all fronts," Carbone tells investors in a research note.
Fly Intel: After-Hours Movers » 18:5007/2207/22/21
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Skechers jumps 7% to $54.85 after Q2 results, FY21 guidance beat estimates 16:3907/2207/22/21
Skechers sees FY21 EPS $2.55-$2.65, consensus $2.10 » 16:0907/2207/22/21
Sees FY21 revenue…
Sees FY21 revenue $6.15B-$6.25B, consensus $5.92B. The company said, "Our record second quarter results reflect the outstanding execution of our long-term growth strategy. Led by our comfort technology products and resonant brand, we continued to expand globally and further our direct-to-consumer presence. The result was evident in growth across our segments and record profitability and is a testament to the prudence of the infrastructure investments we have made and are continuing to make to support our brand and our strategy. These factors coupled with the strength of our balance sheet, give us abundant confidence that Skechers remains poised to continue growing long into the future."
Skechers sees Q3 EPS 70c-75c, consensus 62c » 16:0807/2207/22/21
Sees Q3 revenue…
Sees Q3 revenue $1.60B-$1.65B, consensus $1.51B.
Skechers reports Q2 EPS 88c, consensus 49c » 16:0707/2207/22/21
Reports Q2 revenue…
Reports Q2 revenue $1.66B, consensus $1.48B. Domestic wholesale sales grew 205.7%, Direct-to-consumer sales grew 137.8%. The company said, "Skechers second quarter financial results exceeded expectations as we achieved record quarterly sales of over $1.6 billion, a 127.3% increase over the same period in 2020, and 31.7% increase over 2019. This growth, along with both record gross margin of 51.2% and record quarterly diluted earnings per share of $0.88, was the result of triple-digit improvements in both our domestic and international businesses compared to second quarter 2020, and over 30% as compared to the second quarter of 2019. We accomplished these financial results even as we continued to face COVID-19 related challenges including delayed shipments and port constraints as well as temporary store closures in some key markets, including India, Canada, and parts of Europe and South America."
Skechers options imply 11.8% move in share price post-earnings » 15:3407/2207/22/21
Pre-earnings options volume in Skechers is 12.5x normal with calls leading puts 5:1. Implied volatility suggests the market is anticipating a move near 11.8%, or $6.03, after results are released. Median move over the past eight quarters is 3.8%.
Skechers and kansaiyamamoto collaborate on limited edition collection » 09:1007/2107/21/21
"Skechers announced new footwear collaboration inspired by the late iconic Japanese designer Kansai Yamamoto. The limited-edition Skechers x kansaiyamamoto collection of four fashion sneakers for men and women embrace Kansai's aesthetic and will launch on the one-year anniversary of his passing, July 21, in Japan, North America and Europe," said the company in a statement. The launch spans a range of Max Cushioning Premier fashion sneakers. The men's KY Kabuki Paint and women's KY Nadeshiko styles feature iconic kansaiyamamoto designs inspired by traditional kabuki theater and beauty. The men's KY Sol and women's KY Luna feature ombre color designs that convey the notion of sun and moon. Classic Skechers D'Lites fashion sneakers follow on August 21, with a vivid multi-colored premium leather upper in celebratory festival hues, plus kansaiyamamoto logo.
Skechers price target raised to $55 from $50 at Cowen » 08:2807/2107/21/21
Cowen analyst John Kernan…
Cowen analyst John Kernan raised the firm's price target on Skechers to $55 from $50 and keeps a Market Perform rating on the shares. The analyst left meetings with Management incrementally positive on the top-line outlook, the balance of growth and G&A expenses, and the path of innovation.