Skechers USA (SKX) has a market cap of $3.6 billion. It rose by 1.4% to close at $22.48 per share on September 28, 2016. The stock’s weekly, monthly, and YTD (year-to-date) price movements were 5.9%, -9.8%, and -25.6%, respectively, on the same day.
SKX is now trading 3.4% below its 20-day moving average, 7.9% below its 50-day moving average, and 21.9% below its 200-day moving average.
Related ETFs and peers
The SPDR S&P MidCap 400 Index Fund (MDY) invests 0.25% of its holdings in Skechers. The ETF tracks a market-cap-weighted index of the midcap US companies. The YTD price movement of MDY was 12.6% on September 28.
The iShares Dow Jones US ETF (IYY) invests 0.02% of its holdings in Skechers. The ETF tracks a broad, cap-weighted index of US companies covering 95% of the US market.
The market caps of Skechers’ competitors are as follows:
Latest news on Skechers
Skechers USA has launched a mobile application for Apple and Android devices using customers. This application will help its customers to choose their favorite footwear, to locate the store, to get notifications about offers and events, and to find the additional sizes and color that may not be available in stores. This app will also provide access to Sketchers Elite accounts to track points and redeem rewards for products bought either on the app or from the store.
This application will also provide safe and convenient purchasing experience to consumers and should help consumers make use of retail stores.
Performance of Skechers in 2Q16
Skechers reported 2Q16 net sales of $877.8 million, which is a YoY (year-over-year) rise of 9.7%, as compared to $800.5 million in 2Q15. The company’s gross profit margin rose 1.3% YoY, and its earnings from operations fell 10.6% YoY in 2Q16.
The company’s net income and EPS (earnings per share) fell to $74.1 million and $0.48, respectively, in 2Q16, as compared to $79.8 million and $0.52, respectively, in 2Q15.
SKX’s cash and cash equivalents rose 23.8%, and its inventories fell 4.8% in 2Q16 compared to 4Q15. Its current ratio rose to 2.9x, and its debt-to-equity ratio fell to 0.44x in 2Q16, as compared to 2.7x and 0.48x, respectively, in 4Q15.
The company has projected net sales of $950 million–$975 million for fiscal 3Q16.
In the next part, we’ll look at Procter & Gamble (PG).