LONDON, UK / ACCESSWIRE / July 27, 2018 / If you want access to our free earnings report on Skechers USA, Inc. (NYSE: SKX) ("Skechers"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SKX. The Company released its financial results on July 19, 2018, for the second quarter of the fiscal year 2018 (Q2 FY18). The Company registered a growth of 10.6% in its net sales in Q2 FY18, meeting market consensus estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Skechers USA most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

Skechers reported record net sales of $1.13 billion in Q2 FY18, which were above the $1.03 billion recorded in Q2 FY17. The Company's net sales numbers also met market forecasts of $1.13 billion. During the reported quarter, the Company's international wholesale business surged 24.9%, partially offset by a decline in domestic wholesale and international distributor business by 7.0% and 6.1%, respectively. Moreover, the Company's comparable same-store sales grew 4.5% in Q2 FY18.

The shoe Company's net earnings attributable to common shareholders came in at $45.28 million, or $0.29 per diluted share, in Q2 FY18 compared to $59.54 million, or $0.38 per diluted share, in Q2 FY17. Meanwhile, Wall Street had expected the Company to report net earnings of $0.41 per diluted share in Q2 FY18.

Operating Metrics

During Q2 FY18, the Manhattan Beach, California-based Company's gross profit increased to $561.0 million, or 49.4% of net sales, from $488.3 million, or 47.6% of net sales, in Q2 FY17. For the reported quarter, the Company's selling, general, and administrative expenses (SG&A) were $484.9 million, or 42.7% of net sales, rising from $405.2 million, or 39.5% of net sales, in Q2 FY17. Meanwhile, the Company's earnings from operations fell to $81.4 million, or 7.2% of net sales, during Q2 FY18 from $86.3 million, or 8.4% of net sales, in the last year's comparable quarter.

Cash Matters and Balance Sheet

Skechers had cash and cash equivalents worth $844.85 million at the close of its books on June 30, 2018, versus $736.43 million as on December 31, 2017. The Company's long-term borrowings stood at $70.18 million as on June 30, 2018, compared to $71.10 million as on December 31, 2017. Furthermore, the Company had inventories to the tune of $822.42 million as on June 30, 2018, versus $873.02 million as on December 31, 2017.

Share Buyback

During Q2 FY18, the Company repurchased approximately 510,000 shares of its Class A common stock for approximately $15.0 million. Additionally, as on June 30, 2018, approximately $132.0 million remained available under the Company's existing share repurchase program.

Outlook

In its outlook for Q3 FY18, the Company expects to generate sales in the range of $1.20 billion and $1.23 billion, while its diluted earnings per share (EPS) are anticipated to be between $0.50 and $0.55.

Stock Performance Snapshot

July 26, 2018 - At Thursday's closing bell, Skechers' stock slightly rose 0.14%, ending the trading session at $27.68.

Volume traded for the day: 4.06 million shares, which was above the 3-month average volume of 3.98 million shares.

After yesterday's close, Skechers' market cap was at $5.50 billion.

Price to Earnings (P/E) ratio was at 14.73.

The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Footwear & Accessories industry.

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