Yes they had a so-so quarter
Skechers (SKX) is getting scorched on a SSS miss: +4.5% vs. expectations of +5.2%. Their back-to-school forecast also missed the boat, but sales are still +12% year-over-year for the September quarter.
Even though Skecher’s shows a penchant for disappointing, the numbers will once again be too compelling to step away from for value investors.
Currently Skechers (at $24.50) is trading at 11.7x 2019 earnings of $2.10 – growth of 16%.
Buyers may wait a day to let the sellers shake out, but this is getting close for them. It is a mess, but getting to be a cheap mess.