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What’s the Latest News on Skechers USA?

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Price movement

Skechers U.S.A. (SKX) has a market cap of $4.0 billion. It fell 0.75% to close at $25.27 per share on January 17, 2017. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 0.48%, -2.9%, and 2.8%, respectively, on the same day.

SKX is trading 0.86% above its 20-day moving average, 5.3% above its 50-day moving average, and 3.6% below its 200-day moving average.

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Related ETF and peers

The SPDR S&P MidCap 400 Index ETF (MDY) invests 0.21% of its holdings in Skechers. The YTD price movement of MDY was 0.73% on January 17.

The market caps of Skechers’s competitors are as follows:

  • Nike (NKE) — $87.9 billion
  • Columbia Sportswear (COLM) — $3.9 billion
  • Steven Madden (SHOO) — $2.2 billion

Latest news on SKX

In a January 17, 2017, press release, Skechers reported, “Skechers Performance™, a division of SKECHERS USA, Inc. (SKX), announced today the signing of PGA rising star and YouTube golf trick artist Wesley Bryan who will join the growing number of elite athletes representing Skechers GO GOLF®.

“Bryan’s deal with the global footwear brand tops off the 26-year-old’s big year, as he becomes the newest face for Skechers Performance and a rookie member of the PGA TOUR, having just earned his card for the 2016-2017 season.”

Performance of Skechers in 3Q16

Skechers (SKX) reported 3Q16 net sales of $942.4 million, a rise of 10.1% compared to net sales of $856.2 million in 3Q15. This increase resulted from a rise in the sale of its international wholesale business and global retail business.

The company’s gross profit margin rose 40 basis points, and its earnings from operations fell 19 basis points in 3Q16 compared to 3Q15. The rise in gross margin was due to the increase in domestic wholesale margins, which was offset by lower global retail margins and the product sales mix.

Its net income and EPS (earnings per share) fell to $65.1 million and $0.42, respectively, in 3Q16 compared to $66.6 million and $0.43, respectively, in 3Q15.

SKX’s cash and cash equivalents rose 31.0%, and its inventories fell 15.6% between 3Q16 and 4Q15.

The company has projected net sales of $710 million–$735 million for fiscal 4Q16.

Next, we’ll discuss Reynolds American (RAI).

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